Comedian Kim Jong-seok has revealed the struggles he faces with a staggering debt of 10 billion won (approximately $7.5 million).
During an appearance on MBN's "Special Report World" on October 12, he candidly discussed his financial troubles. Kim expressed his constant worries about accumulating debt and the toll it takes on his family. He noted, "I'm facing losses every month and borrowing money from friends, feeling that if this continues for another year, I will end up failing completely."
Kim's significant debt stems from failed business ventures in the K-pop and coffee industries. He has launched three large cafes but is struggling to cover the interest payments on his debts, which amount to about 600 million won monthly. He acknowledged the challenges, stating, "To earn that much profit from my cafes after taxes is incredibly difficult."
Despite his financial woes, Kim shared heartfelt communication with his younger wife, reflecting on how his challenges impact their family. He apologized for potentially making his family feel pressured amid his struggle for success. His wife responded with support, appreciating his hard work and reminding him to take care of himself.
This poignant conversation highlights the personal sacrifices and emotional toll faced by those in the entertainment industry, especially amid the high stakes of business ventures.