On March 8, 2026, a popular MBC current affairs and cultural program sparked a wave of public scrutiny by delving into the methods celebrities use to build massive wealth through real estate and one-person agencies.
At the center of the controversy is actor Ryu Jun Yeol and a family-run corporation named Deep Breathing, which reportedly reaped significant capital gains through a “debt-based” property investment strategy in Gangnam.
The broadcast has ignited a fierce debate online, with many netizens accusing the actor of hypocrisy and questioning the ethics of using corporate loopholes to generate profit that would be difficult for individual investors to achieve.
The Gangnam Building Flip and “Debt-Based” Investment
The investigation focused on a commercial building in Yeoksam-dong, Gangnam, a prime real estate district in Seoul.
The property, which consists of two basement levels and seven above-ground floors, was reportedly sold for approximately ₩15.0 billion KRW (about $10.2 million USD) in 2022.
The seller was identified as Deep Breathing, a family corporation where Ryu Jun Yeol’s mother serves as CEO and the actor himself serves as an executive director.
The timeline of the investment raised eyebrows due to its rapid turnaround and high leverage. Deep Breathing purchased the original property in 2020 for roughly ₩5.80 billion KRW (about $3.96 million USD).
To fund the purchase, the corporation secured a loan of approximately ₩4.80 billion KRW (about $3.27 million USD), representing 80% of the purchase price.
With an actual initial investment estimated at only ₩1.00 billion KRW ($682,000 USD), the company demolished the existing structure, rebuilt, and sold the new building just over two years later.
Experts interviewed for the broadcast pointed out that such “debt-based” wealth building is much easier for corporations than individuals.
A former bank branch manager explained,
“For sole proprietors, banks evaluate them, but corporations don’t.”
This distinction allows corporations to bypass the stricter loan regulations that apply to private citizens, enabling celebrities to leverage massive bank loans to flip properties for multi-million dollar profits.
Public Fury and the Actor’s Official Response
As the details of the transaction went viral, Korean netizens expressed their disappointment and anger on online community platforms like theqoo.
Many highlighted the perceived disconnect between Ryu Jun Yeol’s public image and his private financial dealings. One netizen commented:
“Wow suits him, doing so many controversial things… He really is choosing to do hypocritical things.”
Others were more blunt, stating,
“He is so disgusting,” and “Not surprised…he looks like he would do something like that.”
The general sentiment among critics is that while the transaction may not be technically illegal, it is an ethical “grey area” that exploits the housing and commercial market for personal gain.
In response to the mounting criticism, Ryu Jun Yeol’s representatives provided a clarification regarding the purpose of the corporation and the building.
They explained that the actor had established a personal corporation primarily to manage his income and had initially planned to launch a clothing business with a friend. According to his side:
“He was planning to build a building with his friend to start a clothing business. However, the business was put on hold due to COVID-19, and thus, the building was sold.”
Despite this explanation, the backlash remains significant, with many questioning why a clothing business required such a high-leverage real estate flip in one of the world’s most expensive neighborhoods.
The incident has reignited calls for stricter investigations into celebrity real estate investments, with one user asking,
“Is there no way to block celebrities from doing this? Is the only way to catch them after going through an investigation? So this isn’t technically illegal?”
As the discussion continues, the case of Deep Breathing has become a flashpoint for public frustration over wealth inequality and the “debt-based” financial strategies used by the elite to stay at the top.
The agency concluded the report by noting that the public remains skeptical of the actor’s motives, especially given the significant capital gain generated in such a short period.
