Buzz on Actor Hong's Financial Acumen

Actor Hong Seok-cheon, the first among celebrities to announce that he is gay, is attracting attention again for his savvy knowledge of asset management. He is known to have saved some one billion won.

He appeared on a KBS-2TV show Monday and talked about his success story of how he started out in a 300,000 won monthly rental residence to purchasing his current 48 pyeong (1 pyeong = 3.3 square meters) apartment.

Since his 'coming out' about his sexual orientation he no longer appeared on TV and subsequently suffered financial difficulties. He then put his mind to saving money, as he believed only money could protect him.

Bent on buying a house, he scrimped and saved to move from his initial half-underground dwelling to a 26 pyeong apartment. He then moved into a larger 36 pyeong flat and finally to his current 48 pyeong home, which reportedly cost some one billion won.

His money management techniques were unveiled on the KBS program 'Economy Vitamin' that aired Monday.