The article investigates the experiences of homeless individuals in Korea and reconstructs the perspective of homeless policy based on their reflections. By analyzing the self-identity of homeless individuals, which has been overlooked in policy studies, through the grounded theory method, this study aims to systematize the contributions of existing research on the definitions of homelessness and homeless individuals. Through an in-depth analysis of life history data collected from the Korea Social Science Data Archive, the researchers identify four metaphorical ‘bus stops’ within homelessness, representing distinct stages in the homelessness journey. These stops range from accepting homelessness as a final destination to seeking actively to escape it. Each bus stop is distinguished by one’s judgment regarding the current situation surrounding oneself, efforts to overcome homelessness, perceptions of others experiencing homelessness, and recognition of homelessness as a destination in life. The study informs targeted and compassionate support and policy interventions by understanding these stations. Despite the potential limitations of secondary data, such as a lack of direct control over its scope or quality, the study offers valuable insights into the lives of homeless individuals, laying the groundwork for Korea’s future homeless policies that prioritize inclusivity and the homeless population’s unique perspective.