Korean entertainer and entrepreneur Jo Young-gu has announced his decision to invest all his assets into a new business venture, despite previous warnings from fellow entertainer Kim Gura and a past investment failure amounting to 5.6 billion won (approximately $4.7 million).
On October 14, Jo Young-gu shared his current situation in a phone call video on the YouTube channel 'GreeGura'.
Kim Gura expressed his regret over Jo's past decision to ignore advice from stock market experts, which led to significant financial losses.
Jo admitted, "I was skeptical and didn't trust them. If I had moved my investments from the stagnant stocks, I could have made billions. Instead, I held onto stocks that wouldn't recover," reflecting on his painful investment mistakes.
He added, "I will invest all the money I've saved so far. I'm canceling all my savings and going all-in on this 'life' investment," shocking everyone with his determination.
In response, Kim Gura expressed his concern, saying, "Oh, don't do it. What are you going to do, really?"
Previously, Jo had confessed to suffering from facial paralysis and shingles due to the stress of his massive investment loss.
In October of last year, Jo appeared on a YouTube channel and revealed that he had lost over 2 billion won in stocks and had lent 3.5 billion won to acquaintances, following the passing of his mother in August.
Jo stated, "I haven't lost it all. The money I lent can be recovered eventually. These people are going through tough times, but they'll overcome it. I mentioned the loans because too many people are asking me for money. It's driving me crazy," he lamented. He also disclosed that his stock losses amounted to 2.5 billion won, leaving him with 450 million won in his bank account.
Jo Young-gu debuted in 1994 as part of SBS's first open recruitment. He gained popularity as a long-time reporter for SBS's entertainment news program 'Midnight TV Entertainment' and showcased his versatility by venturing into music. In 2008, he married Shin Jae-eun, a former home shopping host 11 years his junior, and transitioned into a CEO role by founding a moving company.
Jo Nayeon, TenAsia Reporter nybluebook@tenasia.co.kr