South Korean broadcaster Kim Dae-ho has adopted a strict policy of severing ties with acquaintances who request financial assistance, revealing a past experience that solidified his resolve. The former announcer, who transitioned to freelance work in February, detailed his decision on the MBN program “Kim Ju-ha’s Day & Night” on .
Kim stated he unequivocally refuses all loan requests, regardless of the amount. “I absolutely don’t lend money. I don’t lend even ambiguous amounts,” he emphasized, specifying that he wouldn’t consider loans of even 30,000 or 20,000 won (approximately $23 and $15 USD respectively, as of ). This firm stance stems from a personal experience where a loan extended to an acquaintance resulted in significant financial strain.
According to Kim, while working at MBC, he received numerous business proposals from individuals within his network. He recounted lending money to someone who promised a swift return with a premium. However, this arrangement backfired when he received notification from his bank that his credit rating was at risk, and his credit cards were on the verge of being suspended. He found himself in a precarious financial situation despite holding a stable position at MBC.
“At the time, I had a deposit for a home and was living quite frugally,” Kim explained. When he contacted the borrower for repayment, he received a dismissive response: “I’ll give it back later.” This experience proved to be a turning point, leading him to vow never to engage in personal loans again. “After that, I decided I would simply cut off contact with anyone who brought up money,” he stated.
Kim Dae-ho’s financial success following his departure from MBC has been notable. He revealed on a separate program that his appearance fees have increased by a factor of 100 to 150 since becoming a freelancer. Reports indicate he earned 400 million won (approximately $305,000 USD as of ) within nine months of leaving the company, a figure he confirmed as accurate. This substantial income increase appears to be a key factor in his newfound financial security and willingness to enforce strict boundaries regarding money.
The decision to leave a secure position at MBC, where he worked as an announcer for approximately 14 years, was driven by a desire for greater financial independence and a more diverse lifestyle. He explained that he sought to reach a point where his earnings were “satisfying” while still working, suggesting a desire for financial freedom and control over his career trajectory. He described his departure as an “adventure” and a means of diversifying his life.
Kim’s experience highlights a growing trend among South Korean professionals to prioritize financial stability and personal boundaries. The pressure to provide financial assistance to friends and family is a common cultural dynamic in South Korea, often leading to complex and sometimes strained relationships. Kim’s resolute stance against lending money, particularly given his recent financial success, represents a deliberate rejection of this traditional expectation.
The broadcast also featured actor Kim Kwang-gyu, who is co-starring with Kim Dae-ho in the upcoming entertainment show “The Unnamed Legend,” set to premiere on . The program is expected to showcase their dynamic and potentially contrasting approaches to navigating the entertainment industry and personal finances.
Kim Dae-ho’s story serves as a cautionary tale about the potential pitfalls of personal loans and the importance of establishing clear financial boundaries. His experience underscores the need for careful consideration when mixing personal relationships with financial transactions, even within a culture that often emphasizes reciprocal support.
