"Your Fame Won't Last Forever" Jeon Jiyoon Warns K-pop Stars Against Splurging

Jeon Jiyoon of disbanded K-pop girl group 4MINUTE gave heartfelt advice to K-pop artists.

On June 27, Jeon Jiyoon appeared as a guest on a YouTube show to talk about her life seven years after the disbandment of 4MINUTE.

"I've been doing all sorts of things. I joined a band named PRSNT and started writing stuff, too."

For seven years, Jeon Jiyoon was a member of one of the most popular K-pop girl groups.

Seven years after the group's split, Jeon Jiyoon says she is now all about investing.

The singer discussed her past financial experiences as a K-pop artist, beginning with how the payment system works and why it takes some of them longer to receive their first money.

When you are a trainee, the agency pays for everything, what you eat, wear, and spend, but it is a debt you must repay after the debut, she says.

"Trainees better limit their spending during the trainee days, or they'll be surprised when the agency comes up with a huge bill after their debut."

"Reduce and reuse. You'll have to abide by it.", she laughingly commented to the trainees that may watch.
Jeon Jiyoon says that K-pop groups cannot be paid until they reach the break-even point, which is not always the case since some of them wind up in debt even when after working for the whole contracted length of time, which is usually seven years.

However, she claimed that 4MINUTE was successful enough to exceed the break-even point in their first year.

Jeon Jiyoon says the phenomenal popularity of one of their songs, 'Hot Issue', was their tipping point.
Jeon Jiyoon recounted the big money that came with her early success, and how she regretted spending it on shopping.

"Everyone is the same when it comes to their first taste of success. They buy this and that, all the designer items. And I tell you from the bottom of my heart that it means absolutely nothing."

"I used to be like that too.", she added, "I've bought several designer handbags as a form of compensation after getting paid for the first time. And you know what? I don't wear any of them anymore because those bags are too heavy. I just carry one credit card in a canvas bag since I know it's better for me."
"As I began to study what I could do with the money, I discovered that I could make more if I invested it in something else. It made me regret spending money on expendables that lose value over time.", she said, adding that it inspired her to develop investing strategies.

Then, Jeon Jiyoon offered some sound advice to other K-pop artists.

"The K-pop industry's payment system gives you a large sum of money all at once. It can make you believe you'll always get paid that much. It stems from the illusion that your fame will last forever."

"Recognizing that is the biggest step. Your one successful record does not guarantee that your next one will be a hit. A single failure might lead to a mountain of debt. If you keep that in mind, you'll never be arrogant or waste money.", she said.
(Credit= '1thek (원더케이)' '근황올림픽' YouTube, CUBE Entertainment)

(SBS Star)