It has been reported that the late actress Kim Sae Ron lent at least 500 million won ($360,000) to her father during her lifetime, money she never recovered.
According to a previous June 9th report, Kim Sae Ron was listed as a creditor in her father’s personal bankruptcy case in 2023, with a reported claim amount of around 250 million won ($180,000). However, it has now come to light that she had previously lent him 500 million won ($360,000) in 2014 for business purposes.
On June 23rd, SBS Entertainment News reporter Kang Kyung Yoon obtained the creditor list filed with the Uijeongbu District Court, which confirmed the details. According to the documents, Kim Sae Ron lent her father 500 million won in November 2014 for his business. At the time, she was only 14 years old.
Under South Korea’s Civil Law Articles 920, 921, and 927, legal guardians have the right and duty to manage their child’s property. However, such management is only permitted as long as it does not harm the child’s interests. If the disposal of assets is clearly detrimental to the child, the child has the right to annul the transaction. If a guardian misuses the child’s property, they may be charged with embezzlement or breach of trust, crimes punishable by up to 5 years in prison or a fine of up to 15 million won.
It is reported that Kim’s father used the money for a duty-free business, which ultimately failed, resulting in the complete loss of the investment. He filed for bankruptcy in December 2020 and was granted a discharge of debt in March 2023.
Despite the bankruptcy, Kim’s father launched another business in May 2021. Kim Sae Ron once again offered her full support, using her personal connections and providing financial and emotional assistance. However, that business, a restaurant, shut down last year. The restaurant closed before the lease expired, and the entire deposit was lost due to unpaid rent and maintenance fees.
Throughout her life, Kim Sae Ron supported her family as a breadwinner from a young age. She worked part-time at flower shops and restaurants while caring for her younger sibling. She also borrowed money from acquaintances. Her confirmed debts exceed 1.2 billion won ($865,000). It’s also said that she loaned a large sum to an idol rapper, and the borrowed money was deposited into bank accounts under her family’s names.
Even the 50 million won ($36,200) deposit for the rental home Kim lived in was reportedly covered by a senior executive from an educational company. In addition, she borrowed 60 million won ($43,400) from her former agency, Run Entertainment, last year for surgery and medical bills.
In response to these reports, her family had released a statement through the YouTube channel HoverLab in March, saying: “Articles claiming that Sae Ron was a child head of household or that her family squandered hundreds of billions she earned and bled her dry are filled with outrageous lies that aren’t worth seeing or reading.” They also denied ever living off Kim Sae Ron’s income.
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