Actor Kim Bo-sung reveals stock losses wiped out value of two Gangnam apartments

Actor Kim Bo-sung, 60, has confessed that failed stock investments cost him a fortune equivalent to the value of two Gangnam apartments.

Kim made the admission on Monday's episode of KBS 2TV's Maljasyo, a talk show, saying: "I stayed loyal to one stock. I moved money I had made from other stocks into a single one, and it dropped to one-thirtieth of its value. I stayed loyal to the end, and it collapsed. I lost about the equivalent of two Gangnam homes."

He added: "Maljasyo is a healing program where people come for comfort, isn't it? I came here hoping for some of that. I stayed loyal to a stock and nearly lost everything. Please give me lots of comfort."

Kim also revealed that his original motivation for investing in stocks was not to make money but to give back, making the disclosure all the more poignant.

"I was envious of YouTubers who donate hundreds of millions of won to children with cancer and others in need, and I started investing in stocks so I could practice greater generosity," he said with a bitter smile.

Fellow guest Yun Hyeong-bin said: "I heard what was going on while stepping out to the restroom, and it was not a situation where he should have come out at all. He really showed up out of loyalty. Things are seriously bad right now."

According to Yun, the blue-chip shares Kim had sold midway through would be worth around 50 billion won ($32.5 million) at current prices had he held on to them.

Kim's wife, reached by phone on the show, consoled her husband, saying: "This all started because he wanted to give. What's done is done — dwelling on regret will only add to the pain, so I just hope he takes care of his health."

Meanwhile, Kim made his debut in 1989 as the lead in the film "Happiness Is Not a Grade" and has been one of South Korea's defining action stars for more than three decades.