A Betrayal of Trust That Cost Billions
You know, in the Korean entertainment world, managers are often like family to celebrities. They’re with them 24/7, so the bond is usually super tight. That’s what makes this story about singer Park Sang-min so devastating. He recently appeared on the YouTube channel ‘Kim Hyun-wook’s Hangout Beyond the News’ and shared a painful story from his past. He revealed he had been a victim of several scams, but the biggest one came from his own manager.
He confessed that the total amount of money he lost, including the debts he had to pay off because of the scam, was in the ‘three digits’—which in Korean currency terms means at least 10 billion won (hundreds of millions in USD). He said, “People say you shouldn’t worry about celebrities, but it was so hard I thought I was going to die. I cried a lot.”
The Luxury Car Scheme
So, how did the manager pull this off? It’s like something out of a movie. According to Park Sang-min, his manager managed to pin the whole scheme on him and his wife. The manager used their names to take out loans from a capital company to acquire seven foreign luxury cars. Then, he sold these cars off illegally as what Koreans call “daepo-cha” (unregistered, untraceable cars), basically pocketing all the money while leaving Park Sang-min and his wife with the massive debt.
Park Sang-min expressed deep regret, saying, “I had to pay off that debt for over 10 years. If it weren’t for scams like that, I could have owned three or four buildings like this one.” It’s just so sad to think about how much he lost, not just financially, but emotionally.
Who is Park Sang-min?
For those of you who might not know him, Park Sang-min is a legendary rock ballad singer who debuted back in the 90s. He’s known for his powerful, husky voice and is almost never seen without his iconic sunglasses. He has tons of hit songs that are still beloved at karaoke rooms across Korea. He’s also known for his incredibly generous heart, having reportedly donated over 4 billion won (around $3 million USD) to charity throughout his career. This makes the story even more tragic, as someone so giving was taken advantage of so cruelly.
The Aftermath
The incident happened with a former manager who started working with him around 2009. The manager was eventually caught for other crimes and went to jail, but the financial and emotional damage was done. Park Sang-min revealed that the experience was so traumatic that his wife hates it when he even brings it up, feeling that it makes him look foolish. It’s a tough situation all around, and fans are sending him tons of support after hearing his story.
