ENTERTAINMENT
Actor Ryu Jun-yeol's Family Corporation Profits Millions from Gangnam Building Investment
MBC's current affairs program 'Straight' aired an episode titled 'Is It Foolish Not to Have a One-Person Agency?' on the 8th. The broadcast highlighted how celebrities who establish one-person agencies increase their assets through real estate acquisitions.
During the show, the production team visited a building in Yeoksam-dong, Gangnam-gu, Seoul, which was sold by 'Deep Breathing,' a family corporation where Ryu Jun-yeol served as an internal director and his mother as the CEO. The building, with two basement levels and seven above-ground floors, was traded for approximately 15 billion KRW four years ago.
According to the broadcast, Deep Breathing purchased the property in 2020 for about 5.8 billion KRW. After demolishing the existing structure and remodeling, they sold it, making a profit of around 10 billion KRW in just two years.
The significant role of loans in the purchase process was particularly highlighted. It is estimated that Deep Breathing replaced about 80% of the purchase price, approximately 4.8 billion KRW, with loans. A former bank branch manager explained in an interview with the production team, "While individuals are evaluated, corporations are not. Loan interest is recognized as a loss and expense for the corporation. In such cases, most receive loans up to 80%." The broadcast criticized this as a typical 'debt investment' strategy for wealth accumulation.
Meanwhile, Ryu Jun-yeol's then-agency, C-JeS Entertainment, explained that he established a personal corporation for managing his income. They further clarified that he attempted to venture into the clothing business with friends by constructing a building, but due to the COVID-19 pandemic, the business was put on hold, leading to the sale of the building.
By Soo-min Lee, TenAsia Reporter danbilee19@tenasia.co.kr
