Kim Kyung-sik's Real Estate Success Story: From Financial Struggles to Tower Palace

Kim Kyung-sik, known for his frugal lifestyle, recently shared his successful real estate investment story.

On the YouTube channel 'Jjanhanyoung Shin Dong-yup,' a video titled 'Seoul Institute of the Arts Devils' Friendship, Betrayal Exists but No Touching Moments at the Drinking Table' was posted on the 11th, featuring Kim Kyung-sik and Lee Dong-woo.

Lee Dong-woo reminisced about a drinking session in July 2019 with Shin Dong-yup, saying, "I was happy then. I was very drunk, but I can't forget that day. It was warm, and the drinks were good." However, Kim Kyung-sik revealed, "I was happy until you were there, but after you left, hell began. I even had to apologize publicly because of it. I was tormented by guilt."

After the drinking session, they called for a designated driver, pretending to be sober but were actually heavily intoxicated. Lee Dong-woo explained, "I pretended to be fine and got out, while Kyung-sik was in the car. Usually, Kyung-sik would see me to the elevator, but that day he was passed out in the car."

A drunken Lee Dong-woo got out of the car and lay on the street. He intended to rest for a moment but collapsed, breaking his cane. Kim Kyung-sik apologized for a month, saying, "I'm sorry I couldn't take care of you." Shin Dong-yup, unaware of the situation, also apologized, "I'm sorry too. I poured a lot of drinks."

Kim Kyung-sik recalled, "Shin Dong-yup was an old soul even when he was young. He was like an older brother, even though we were friends. He even managed my money and told me to save." Shin Dong-yup added, "Kim Kyung-sik spent money recklessly." Lee Dong-woo agreed, "He had no plan." Shin Dong-yup remembered, "He was doing well with Tintin Five and earning money, but if he felt bad while drinking, he'd go to a nightclub alone. If he met other juniors there, he'd buy everything for them. It's good to take care of people, but he went too far." He continued, "He spent all his money on drinking. I told him, 'Give me $500 a month, and I'll save it for you.' I wanted to help him save." Lee Dong-woo chimed in, "It was serious enough that Shin Dong-yup had to take care of him." Shin Dong-yup recalled, "I scolded him, saying, 'Please, get it together.' Then one day, he signed an apartment contract and started working hard to pay for it."

The turning point for Kim Kyung-sik came when his father passed away. He said, "I was working hard with Tintin Five, but in my early 30s, I only had 200,000 won in my bank account. I was the head of the household, and I felt ashamed. I was in my early 30s, and my father passed away in his 50s. I thought, 'I need to get my act together,' so I saved every penny I earned."

Shin Dong-yup shared, "Kim Kyung-sik told me he signed a contract for an unsold apartment, and I asked, 'Why did you choose one that wasn't selling?' It turned out to be the first mixed-use residential building in Korea. Later, I found out it was Tower Palace. Kim Kyung-sik didn't know and just bought it because it was near his neighborhood. He sold it well and got out."

Kim Kyung-sik explained, "Usually, apartment sales offices invite you in, but this one asked if I had a reservation as I passed by. I wasn't even planning to go in, so I felt offended. I wondered what was so special about it and went in. It was a model house. I needed a home at the time, so I signed the contract."

Reporter Kim Ji-won, Ten Asia bella@tenasia.co.kr