Netizens are not surprised.
Koreaboo
11 minutes ago
On the March 8 episode of MBC’s current affairs and cultural program, it delved into the wealth creation of celebrities through one-person agencies.
During the broadcast, the production team visited a building in Yeoksam-dong, Gangnam, which consists of two basement levels and seven above-ground floors, which was reportedly sold for approximately ₩15.0 billion KRW (about $10.2 million USD) in 2022.
At the time, the seller was a corporation called Deep Breathing, reportedly a family corporation in which actor Ryu Jun Yeol served as an executive director and his mother as the CEO.
Deep Breathing purchased the property in 2020 for approximately ₩5.80 billion KRW (about $3.96 million USD). After demolishing the existing building and selling it, the company generated a significant capital gain in just over two years.
It was also revealed that the loans played a major role in the purchase process. Deep Breathing secured approximately ₩4.80 billion KRW (about $3.27 million USD), or approximately 80% of the purchase price through loans from financial institutions. The actual investment is estimated to be about ₩1.00 billion KRW (about $682,000 USD).
It was pointed out that it is generally easier to obtain loans for commercial buildings purchased under a corporation’s name than for individuals.
A former bank branch manager stated, “For sole proprietors, banks evaluate them, but corporations don’t.” The bank cited cases like this as examples of “debt-based” wealth building.
Meanwhile, Ryu Jun Yeol’s side explained that at the time, he established a personal corporation to manage his personal income and that he was planning to build a building with his friend to start a clothing business. However, the business was put on hold due to COVID-19, and thus, the building was sold.
Netizens were not surprised that he would be involved in another controversial matter.
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- “Wow suits him, doing so many controversial things…”
- “He really is choosing to do hypocritical things.”
- “He is so disgusting.”
- “Amazing…”
- “Not surprised…he looks like he would do something like that.”
- “Is there no way to block celebrities from doing this? Is the only way to catch them after going through an investigation? So this isn’t technically illegal?”