"Enough to Buy 100 Apgujeong Hyundai Apartment Units": Shim Hyung-rae Reveals His Commercial Income at His Peak

[Financial News]   Comedian and film director Shim Hyung-rae revealed that he filmed more than 100 commercials during his heyday, earning 80 million won per commercial. He added that an Apgujeong Hyundai Apartment unit was priced at 78 million won at the time.
On MBN's factual program 'Special World,' which aired on the 24th, Shim Hyung-rae discussed his income at the height of his career and his current efforts to make a comeback as a film director after declaring bankruptcy.
Recalling his earnings during his heyday, Shim Hyung-rae said, "I was practically raking in money. I had so much of it that it became a nuisance."
He also disclosed the size of his commercial fees. Shim Hyung-rae said, "I was paid 80 million won for just one commercial. An Apgujeong Hyundai Apartment unit was priced at 78 million won at the time," adding, "I filmed more than 100 of them."
Based on 100 commercials, as Shim Hyung-rae described, his fees would total about 8 billion won. That would have been enough to buy more than 100 units at Apgujeong Hyundai Apartment, where a unit was priced at 78 million won at the time. Describing his popularity then, he said, "That was when I had all of South Korea buzzing."
Shim Hyung-rae made his debut in 1982 as a comedian in the first cohort of publicly recruited comedians at the Korean Broadcasting System (KBS), gaining widespread popularity with his Young-gu character. He later expanded into film, appearing in 'Young-gu and Ttaengchili,' 'Yonggary,' and 'Dragon Wars: D-War.' He also took on production and directing duties, working as a film director.
His film business left him deeply in debt. Shim Hyung-rae previously said on a television program, "Even after selling everything I owned, I still had 17.9 billion won in debt. So I filed for bankruptcy." He was declared personally bankrupt in 2013.
Shim Hyung-rae is now preparing to return to work as a film director. As 'Dragon Wars: D-War,' released in 2007, has recently drawn renewed interest on overseas online video services (OTT), he is also pursuing production of the sequel, 'D-War 2.'
'Dragon Wars: D-War' is a science-fiction monster film directed, written, and produced by Shim Hyung-rae. It was based on the imugi, a creature from Korean folklore, and became a box-office hit in South Korea, although critics and audiences were divided over its quality.
However, 19 years after its release, the film climbed the rankings overseas again. After its release on Netflix, it reached No. 2 in film rankings in major European countries, including France, Germany, and Italy, and entered the upper tier of global film rankings.
Regarding the renewed interest overseas, Shim Hyung-rae said, "'Dragon Wars: D-War' made an unexpected comeback on OTT platforms in more than 20 countries, beginning in Europe," adding, "I am truly grateful that they have shown such a strong preference for 'Dragon Wars: D-War.'"
The program also showed Shim Hyung-rae discussing investment in 'D-War 2' with officials from Kazakhstan. Explaining his plans to take the sequel to the global market, he said, "Even grandmothers at the markets know 'Dragon Wars: D-War' now."
He also revealed his upcoming schedule. Shim Hyung-rae said he is preparing a production announcement event for 'D-War 2' this December and that the original 'Dragon Wars: D-War' is scheduled to be re-released in January next year. He said, "'D-War 2' may also go into production, and 'Dragon Wars: D-War' is set for a re-release. If I hadn't invested, who would have given me this opportunity? Even before it became a hot topic in the United States, I met with American production staff, prepared a game, and created storyboards."
This is not the first time Shim Hyung-rae has revealed his earnings during his heyday. He also discussed them on MBN's entertainment program 'Kim Joo-ha's Day & Night' in February. At the time, Shim Hyung-rae said, "Among comedians, I made the most money," adding, "I appeared in more than 100 commercials, and if you include the films I acted in and produced, the total comes to about 118."
He also disclosed his fee for appearing in the 1989 hit 'Young-gu and Ttaengchili.' Shim Hyung-rae said, "At the time, Ahn Sung-ki was being paid 15 million won, but I received 200 million won," adding, "That was when an apartment cost 5 million won."
[email protected] Han Seung-gon Reporter