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A hotel in Pocheon, Gyeonggi Province, owned by Big Bang's leader |
By Park Si-soo
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| Another Big Bang member Seungri, left, who runs three dance academies. |
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| JYJ's member Junsu cutting a ribbon during the inauguration ceremony of his hotel on Jeju Island. |
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| 2PM's member Chansung who runs a fitness center in Seoul. / Korea Times files |
There are lots of celebrities here who make extra money from "second" jobs. For some, the estimated income from these is much larger than that from their primary career.
The most popular sector in which to make a secondary income is the hospitality industry since their public awareness is a strong tool for marketing without costs. In fact there are several celebrities who have accumulated massive wealth with their own restaurants that rapidly flourish with franchised outlets.
For female entertainers, Internet shopping malls, mostly specializing in clothes and beauty products, are one of the most popular businesses they set up. The reason is the same: easy promotion of the company and goods for sale using their own public image. With media regulations eased, some show up on the small screen wearing and applying products they sell.
Idol stars are not an exception. Though their popularity is still high with no immediate sign of receding, those who know the short-lived nature of the industry have ventured into new territory. Young entertainers in their 20s dodge typical options; they select what gives them personal satisfaction and money at the same time.
Popular five-member boy band Big Bang is well known for having members who run their own businesses.
Seungri runs a dance academy in his hometown of Gwangju, teaching dancing to wannabe stars. Despite his busy schedule, the 22-year-old frequently visits the city, nearly 300 kilometers south of Seoul, to teach students and deal with other administrative affairs. The academy has two domestic branches, one in Incheon and the other in Daejeon. He is reportedly considering opening an overseas branch in China where the band receives rock star treatment.
"I opened the academy to live without worrying about money after retirement," Seungri said.
Chansung, a member of another boy band 2PM who is famous for his well defined six-pack and musculature that earned him the nickname "beast," runs a fitness center in Gangnam, Seoul. Shindong of 13-member boy band Super Junior owns two name-sake Internet gaming centers in Seoul.
There are several idol stars who make sizable investments in real estate to seek big returns. Big Bang's leader G-Dragon built a hotel valued at nearly 1 billion won ($880,000) in Pocheon, Gyeonggi Province, last year. Reportedly the 24-year-old designed the building and determined its interior concept based on his experiences of working at a hotel when he was younger. The hotel is managed by his father.
Pop group JYJ's member Junsu is pushing forward with a bigger hotel project. His hotel — a four-story building with 65 rooms — is now under construction in Seogwipo, Jeju Island. It's located near the waterfront so that guests will have "beautiful ocean view," said a realtor familiar with the project. "The hotel is expected to become a tourist attraction for JYJ fans." The hotel will be completed by June and his father will manage it.
Goo Hara of girl band KARA, which rocks Japan, purchased a luxurious three-story villa in Seoul for 1.1 billion won last year. She sublets it for a handsome monthly rental fee.
Singer BoA is famous for having multiple buildings whose combined value is more than 8 billion won — one of the buildings in Cheongdam-dong, Seoul, is valued at 2.8 billion won and another one in the same district is priced at 2.5 billion won. The 26-year-old also owns a ranch and a villa on the outskirts of the capital, whose value is estimated at 3 billion won.
Actor Song Seung-heon owns a franchise family restaurant, Black Smith, in Sinsa-dong, Seoul. Model-turned-actor Hong Seok-cheon, who was once kicked out of the TV drama industry after coming out as gay in 2005, runs seven crowded restaurants in Itaewon.
Many actresses and female singers have opened Internet shopping malls. Some of them, including singer Baek Ji-young, Kim Joon-hee and actress Jin Jae-young, were punished by the state fair trade regulator for running fraudulent promotional campaigns.
"It may be easy for them (celebrities) to have a good start thanks to their popularity," said singer-turned-wedding consultant Kim Tae-wook. "But they will see their business collapse if they rely on it too much. It's a totally different ballgame."
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