Following the sudden passing of Kim Sae Ron on February 16th, details have emerged about the former child star’s financial struggles, including a 7 billion won ($490,000) debt to her former agency.
The actress, who rose to prominence in the 2010 hit The Man From Nowhere, reportedly borrowed heavily from her former agency to cover damages and contract penalties following a DUI incident. Her former legal representative revealed in a 2023 interview, “The contract penalties alone were substantial, leading to significant debt. All her previous income went to her parents’ business funds and family living expenses. She was indeed in a difficult financial situation.”
Kim’s career trajectory changed dramatically after a May 2022 DUI incident in Seoul’s Gangnam district, where she crashed into a transformer, causing widespread power outages in the commercial area. The incident resulted in astronomical compensation demands and substantial contract penalties from advertising deals and drama appearances.
Her former agency, Gold Medalist, found by actor Kim Soo Hyun and his cousin, initially covered the settlement costs and contract penalties, which became the actress’s debt. Sources indicate she promised to repay the amount upon leaving the agency.
Unable to secure entertainment work due to negative public sentiment, Kim took part-time jobs at cafes and acting academies. She even changed her name to Kim Ah Im in an attempt to work anonymously. “After the incident, she changed her name and wore glasses to avoid recognition,” a close associate shared. “When people discovered she was Kim Sae Ron, she would receive termination notices. She was deeply troubled by this cycle while trying to maintain basic employment.”
According to TV Daily, when debt repayment delayed, Gold Medalist sent a formal notice demanding repayment)—a move the agency was compelled to make as the funds were company money, and failure to collect could potentially be seen as a breach of fiduciary duty. The actress reportedly pleaded for more time, citing her difficulty in finding work, and expressed her commitment to eventual repayment. Tragically, Kim passed away before fulfilling this promise.
>> Won Bin, Cha Eun Woo, IU and More Mourn Kim Sae Ron; Family Prepares Legal Action
Source (1)
