Popular internet broadcaster BJ Cheolgu, whose real name is Lee Ye-jun, 36, has drawn widespread attention after confessing to overseas gambling and the use of illegal high-interest loans, and announcing he will turn himself in to police.
In an early-morning personal livestream Tuesday, Cheolgu said he would go to a police station at 8 a.m. to surrender, and admitted he had been traveling to the Philippines to gamble since 2024.
He said he had been spending more than 1 billion won ($682,000) a week on gambling, adding, "I should have used my own money, but I was so consumed by gambling that I ended up taking out high-roller (backer)-brokered illegal loans at 10 percent weekly interest."
Tax liabilities then compounded his debt. "I kept rolling over the debt — borrowing money and paying it back the following week with interest added on top — but things got worse recently when a value-added tax bill of about 6 billion won came in," Cheolgu said. "To prevent my accounts from being seized, I had no choice but to borrow money from various acquaintances."
He also revealed he had borrowed tens of billions of won from fellow broadcasters. Cheolgu said a fellow BJ known as K had lent him 2.3 billion won and another known as Jjabgu had lent him 2 billion won, adding, "I have paid back about 500 million to 600 million won each to K and Jjabgu. I am truly sorry and I deeply regret this."
He also said that through an introduction by one of his backers, he had recently signed an MOU with a Kosdaq-listed company and arranged to borrow 2 billion won — but that deal also fell through. "They had agreed to lend me 2 billion won interest-free for one year," he said. "The money was supposed to come in on Friday, but it ultimately never arrived."
Cheolgu, who runs a broadcast program called "Excel Broadcasting," has also failed to pay out earnings to his cast members. "I spent three days running around trying to raise money but ultimately couldn't," he said. "As the payments were delayed, word got out."
He repeatedly apologized, saying, "It is true that I engaged in illegal overseas gambling and took out illegal loans. I will turn myself in to police and accept whatever punishment comes. Even if I go to prison, I will find a way to repay my debts."
bbo@heraldcorp.com
