Here's How Kim Jaejoong Became The Richest K-Pop Star In The World
Talent and pure hard work brought the K-pop star Kim Jaejoong massive fortune. Kpop Star Kim Jaejoong boasts an estimated net worth of $100 million making him the richest K-pop idol in South Korea. Despite the enormous wealth and success, the Kpop star is enjoying right now; triumph did not come easy for the entertainer. In order to reach millionaire status, he has to experience life struggles and even work odd jobs to make ends meet. Take a look at how Kim Jaejoong became the richest Kpop Star in the world.
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Kim Jaejoong whose real is Han Jae-joon was born on January 26, 1986 in Gongju, Chungcheongnam-do, South Korea. It was later on revealed by his biological mom that he was actually born on February 4 and not January 26. At a very young age, he was given up for adoption by his mom to the Kim family and changed his name to Kim Jaejoong. Growing up, life was a little complicated for the artist. During the time when he was attaining fame in South Korea, a man with a surname Han has filed a lawsuit against the adoptive parents of Kim stating that he is the biological father and he wanted parental rights. The lawsuit against the adoptive parents of Kim Jaejoong was already set to have the first hearing to be held in Jaejoong’s hometown in Gongju, on November 29, 2006. The man cited the reason for said lawsuit was because the adoptive parents of Jaejoong did not go through legal procedures of adopting him. However a few days before the hearing took place, Han decided to drop the charges.
At the time, Jaejoong has uploaded a journal entry on their official fan club website stating that he was aware that he was indeed adopted. It was revealed to him by his adoptive parents two to three years prior to the lawsuit. He added that although he was shocked by the truth that was revealed, he has been keeping in touch with his biological mother with the support of his loving adoptive mother. Although Jaejoong has already established a relationship with his biological mother, he claims that he does not know the whereabouts of his father and that he will remain as Kim Jaejoong.
When Jaejoong was only fifteen years old, he decided to move to Seoul just by himself in order to participate in the annual auditions held by a prominent entertainment agency in Seoul, SM Entertainment. He was able to join the agency upon his audition and eventually debuted as the lead vocalist of South Korean boy band TVXQ. However before he even debuted, he had to face hardships.
His life upon his arrival in Seoul was met with financially difficult and in order to make ends meet, he has to take numerous odd jobs. He has to pay rent, buy food and pay for training fees just to make it to the entertainment industry. Due to his looks, he was able to appear as an extra in films before he even debuted.
Kim Jaejoong’s career took off in South Korea from 2003 to 2010. TVXQ is the biggest male group in the entertainment scene at the time and hottest dance group from their agency. The group was formed in 2003 with members Hero Jaejoong, Micky Yoochun, U-Know Yunho, Max Changmin and Xiah Junsu. The five member group immediately launched to the mainstream media after their release of their first physical single titled Hug in 2004. The group’s first studio albums of titled Tri-Angle in 2004 and Rising Sun in 2005 were both chart toppers and pushed their popularity to no limit. They were even able to penetrate the Japanese music industry. However their success was met with such limited success.
In 2010, the group went on hiatus as Kim Jaejoong together with Yoochun and Junsu left their agency for citing unfair distribution of profits and excessively long schedules as the reason. The trio went on a legal battle with SM Entertainment since they are still under their contracts. The trio however continued to form a group known as JYJ and enjoyed their international success with the ongoing legal battles.
Kim Jaejoong’s new group JYJ was among the hottest group after they were launch. Although they are still facing legal battle against SM Entertainment, numerous agencies are still looking forward to sign them in. It was the C-Jes Entertainment who won the hearts of the trio and signed with agency right away. The group’s legal battle with SM Entertainment lasted until 2014 where they were able to finally meet halfway and settle their dispute. The group went on to sell millions of albums throughout their career. However the group has also been disbanded as well with Yoochun’s departure from C-Jes Entertainment in 2019 and Junsu’s departure in 2021. Jaejoong continued his activities as a solo artist and released his own albums and found success as a solo artist selling half a million albums.
Kim Jaejoong was able to successfully cross over into acting has he starred in numerous series including Triangle in 2014 and Spy in 2015. He is said to be earning at least $2 million annually from his acting activities. Just like other stars in South Korea, Jaejoong went on to invest his hard earned money. He spent his money on investing in numerous buildings and flats. He reportedly bought a flat worth $2.5 million located in Samsung-dong and $7 million building located in Seocho-dong. He rents out both properties with a month rent of $4,900 and $35,000 respectively.
The Kpop star seemed to have been infected with the entrepreneurial bug as he also invested in numerous food ventures. He owns cafes, bars and restaurants across South Korea. He owns Coffee Cojjee and Cafe J-Holic in Samsung-dong, Japanese restaurant Bum’s Story and Holic J-bar in Gangnam. These food businesses are highly profitable since his massive fans flock them frequently. He also a mall located in Shibuya, Tokyo with the third and fourth floor being rented out for $40,000.
Sources: SCMP, Korea Boo, All Kpop
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