YES IM Entertainment's founder and singer, Im Chang Jung, revealed how much his investment is in forming his company's first girl group, mimiirose- and the total may shock you.
How Much Money Did Lim Chang Jung Invest in Forming mimiirose? Here's What He Revealed
On Oct. 4, episode 1 of "Hami Business" was uploaded to the "1theK Originals" YouTube channel. It introduces the five members of Lim Chang Jung's girl group, mimiirose.
At one point in the video, Im Chang Jung held a meeting with mimiirose and the production team of YES IM Entertainment. Prior to the meeting, Chang Jung praised the idols for their beauty, asking, "But how come you guys make yourselves look so pretty?"
One mimiirose member replied, "Because we're pretty originally. We're idols now," making everyone in the room burst into laughter.
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In a separate interview, Im Chang Jung confessed that he didn't know the trainees who will debut as mimiirose members are "so pretty." He added, "I guess they'd make a great success from their first song. But I guess they'd [also] make a great success with their visuals. "
Going back to the meeting, Im Chang Jung began the conversation by remarking, "I'm not trying to say anything about other groups, but these guys, to the extent that there wouldn't be any member who would look sloppy even if each of them make a solo debut now. As for the solo, after watching these guys dance, I was like, 'Wow, they're as good as 'Street Woman Fighter' [contestants]."
One staff member then asked Im Chang Jung, "Then, how much money did you spend on investments for gathering these members?"
The singer responded, "Revealing the numbers would make people show adverse reactions, let's keep it a secret between us."
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While he speaks, the caption in the video says, "We decided not to reveal the accurate amount based on his request. He's talking about money openly."
So how much money did Im Chang Jung invest in forming mimiirose? Well, he revealed that there was this amount of 2.5 billion won and several billions won. He added that approximately 20 billion won (approximately $14 million USD) "has disappeared."
After hearing this, the mimiirose members then playfully asked where the 20 billion won went, and Chang Jung joked that Jia and Yewon spent most of the money to dye their hair and maintain it.
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Last August, when Im Chang Jung appeared on MBC's "Radio Star," he revealed that he sold the copyrights to 160 of his songs and also the land he owned so he could raise money for the formation of mimiirose.
Meanwhile, the veteran singer earns money in various ways. He runs jokbal restaurants named after him in different cities in South Korea, such as Gangnam, Seoul, Munjeong, Bucheon, Cheongdam, Hwagok, Dangsan, Daegu, Pohang, and Jeju Island.
Moreover, he is an owner of a pub franchise in 30 places. He also established a training center in Nonhyeon-dong and and recently, an entertainment agency (YES IM Entertainment), which is located in Paju and is known to have been purchased for five billion won.
mimiirose Debuts With First Single Album
In other news, new K-pop girl group mimiirose made their debut on Sept. 16 with their first single album "Awesome," which features the title track "Rose" and the B-sides "Kill Me More" and "Lululu."
Check out mimiirose's "Rose" music video below:
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Written by Maria Scott
