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The Debtor Rehabilitation and Bankruptcy Act( Law ) promulgated in 2005 newly inserted one Chapter on cross-border insolvency based on the UNCITRAL Model Law on Cross-Border Insolvency. In reviewing the area of cross-border insolvency under the Law, with regard to the roles of the three entities acting in crossborder insolvency cases, that is, bankrupt companies, creditors and courts, we propose to consider the three different approaches, that is, inbound approach, outbound approach and reciprocal approach, which will help understanding and easily solving various issues arising from cross-border insolvency. The inbound approach involves the issues as to if creditors can participate in domestic insolvency proceedings to satisfy the claims, or if the foreign representative of bankrupt companies can get the recognition of foreign insolvency proceedings and obtain reliefs and assistance from the domestic court, or to participate in the domestic proceedings. With regard to the outbound approach, the issues are if domestic creditors can participate in foreign insolvency proceedings; if domestic companies can initiate and proceed with foreign insolvency proceedings; or if the domestic insolvency proceedings can be recognized by foreign courts or can get reliefs from such foreign courts. The reciprocal approach mainly involves the issues of reciprocal adjustment and conciliation among concurrent insolvency proceedings for the same debtor and of cross-border cooperation between domestic court and foreign courts, or foreign representative to facilitate the progress of cross-border insolvency proceedings. The Law enacted several provisions relevant to the above three approaches such as role of foreign representative, recognition of foreign proceeding, relief granted upon recognition of foreign proceeding, cooperation with foreign courts and foreign representative, concurrent proceedings, while the issue of recognition of foreign insolvency proceedings and grating relief to such proceedings is the most important one in dealing with cross-border insolvency cases. This issue requires more in-depth and vast review and discussion from theoretical or practical perspectives. However, in view of the legislation purpose of the UNCITRAL Model Law, that is, equal and harmonious treatment of cross-border insolvency cases, the core provisions in dealing with cross-border insolvency cases are cooperation among the courts and administrators concerning cross-border insolvency cases and conclusion and use of cross-border agreements. While our country is at the primitive stage in dealing with cross-border insolvency cases, various types of judicial cooperation on cross-border insolvency cases are implemented in Western countries including US and UK. We expect that effective and equal treatment of cross-border insolvency cases be accomplished in future through in-depth and vast theoretical review and accumulated experiences in cross-border insolvency cases.