Debt Drama Unfolds: Celebrity Chef Lee Young-sook Fires Back at ‘Suspicion of Debt’ Allegations

While Lee Young-sook, the CEO of Nakyung Mushroom Farm, who appeared in Netflix’s ‘Black and White Chef’, was embroiled in suspicions of ‘debt investment’, the representative refuted this.

According to a report in the Maeil Newspaper on the 28th, CEO Lee borrowed 100 million won from Mr. Cho, the head of a shiitake mushroom association, while preparing to open a local restaurant in 2010, but did not repay the money until the maturity date of April 2011 passed.

Mr. Cho died in July 2011, three months after expiration. Afterwards, Mr. Cho’s bereaved family found out about this fact by discovering an IOU while organizing his belongings. They contacted CEO Lee in 2011, but were told that he had “never borrowed anything.”

The bereaved family filed a civil suit against CEO Lee, and in 2012, the court ruled, “Representative Lee received a salary calculated at a rate of 8.45% per year from May 1, 2011 to May 24, 2012, and 20% per year from the following day. “Pay the money,” he ruled.

However, CEO Lee did not repay, saying, “I don’t have the money.” Accordingly, the bereaved family put a provisional seizure on the land owned by CEO Lee and received about 19 million won back through an auction. The remaining amount was not returned.

Afterwards, CEO Lee appeared on the cooking competition program ‘Korean Food Battle 2’ in 2014 and received 100 million won in prize money. Accordingly, Mr. Cho’s family applied to the court for a bond seizure and collection order in 2018, and the court accepted it, but they still have not received the money.

Mr. Cho’s side said, “Apart from the 100 million won I used on the loan, there is about 50 million won more that my father repaid on behalf of CEO Lee through a joint guarantee.” He added, “I didn’t ask for the right to indemnification because I thought they would give me 50 million won when I wasn’t even paying 100 million won. “It was October last year, and the 10-year statute of limitations for claims for compensation expired,” he said.

He also added, “The amount that CEO Lee owes to our family is currently over 300 million won, including interest, and this time, by appearing on ‘Black and White Chef,’ he is turning people inside out again.”

Representative Lee said, “It is true that I borrowed money, but I have repaid some of it. I plan to resolve this matter with my lawyer.”

Netizens who heard about the ‘debt suspicion’ showed reactions such as “If it’s true, it’s so shocking,” “It’s not enough to live in hiding, and it’s even being broadcast,” and “Pay back the money now.”

Meanwhile, CEO Lee participated in the entertainment program ‘Korean Food Battle’ in 2014 and won. Afterwards, he recently appeared as a Korean food master on ‘Black and White Chef’ and garnered attention.