What happened?

Actor Kim Kwang-kyu revealed on MBC's variety show 'Need Some Help?' that he has bought a home in Yeonhui-dong, Seoul. He said he had wanted a home in Seoul for 28 years and financed the purchase with a loan. The reveal came during a segment where Yoo Jae-suk, Haha, Heo Kyeong-hwan, and Joo Woo-jae acted as his daily assistants.

Why does this story matter?

Kim has spoken openly on several shows about his housing struggles. In 2022 he appeared on 'I Live Alone' and said he had bought his first home in Songdo, Incheon, at age 56. He later expressed frustration that Seoul apartment prices had risen sharply from a level he could once have bought at.

What was the jeonse fraud?

In February, on MBN's 'Kim Ju-ha's Day & Night', Kim described being defrauded by a real estate agent. According to him, the agent had a home rented out on monthly rent arranged as a jeonse contract without the owner's knowledge. When the real owner later demanded rent, Kim learned of the scheme. By the time he went to the agency, the office was empty. He said he lost savings he had built over 11 years and that three years of legal proceedings did not recover the money.

For international fans

Kim is a veteran actor and comedian who is widely known on Korean variety programs. Jeonse is a Korean lease system in which tenants pay a large deposit instead of monthly rent, which makes deposit fraud a serious risk for renters.