TV
Jo Ji-hwan and Park Hye-min Struggles with Financial Management Despite Increased Income
On the October 3rd episode of KBS2's 'High-End Saltwater Strider,' Jo Ji-hwan and Park Hye-min appeared to discuss their financial issues. Jo Ji-hwan, an actor and comedian, is the younger brother of Jo Hye-ryun. The couple previously revealed their financial hardships and marital issues on a couple's counseling program, where they admitted to struggling even to afford gas.
Currently, the couple runs a YouTube channel documenting their daily lives, boasting around 200,000 subscribers. Their monthly income now ranges between 7 million to 10 million KRW (approximately $5,900 to $8,400).
Park Hye-min shared, "Our income has increased fourfold compared to our most difficult times," and mentioned that they are experiencing the happiest period in their 10-year marriage. However, she also confessed, "We used to manage everything with 3 million KRW, including living expenses and school fees for our children, but now the money just disappears." Jo Ji-hwan echoed her concerns, stating, "Our income has increased, but we can't seem to save any money." The show's hosts and financial trainer Kim Kyung-pil decided to investigate where their money was leaking.
The couple's unplanned spending and lack of savings were identified as the main issues. Despite being a family of three, they spent 180,000 KRW on a single eel meal. Park Hye-min blamed her husband's appetite, while Jo Ji-hwan pointed to his wife's shopping habits. Park Hye-min admitted, "I bought a small bag as a reward for myself," and showcased luxury bags and belts in her dressing room.
The couple also made impulsive purchases, such as buying a dehumidifier the day after deciding they needed one. Arguments arose between them over financial control, with Jo Ji-hwan questioning their bank balance. Items like a sofa cleaner and exercise equipment, bought in the past, were barely used. Comedian Yang Se-hyung criticized their spending, saying, "You spend more than Elon Musk." Singer Lee Chan-won also nodded in agreement, understanding why their money was disappearing.
Their food expenses have increased from 800,000 KRW to 2-3 million KRW, and shopping costs have risen from 500,000 KRW to 2 million KRW. The family currently lives in a semi-jeonse (a rental system in Korea) with a deposit of 270 million KRW and a monthly rent of 800,000 KRW. They couldn't apply for a housing subscription due to a lack of a 100 million KRW deposit.
Financial trainer Kim Kyung-pil pointed out, "You have no savings." The couple admitted they save money only after spending, and often break their savings due to insufficient funds. Kim emphasized the importance of setting financial goals, advising them to convert their current rental into a full jeonse and eventually own their home, suggesting the use of an Individual Savings Account (ISA).
Reporter Kim Ji-won, TenAsia bella@tenasia.co.kr
