Swings: "I owe 12 billion won, almost all paid off... I can see the light." [SPNS]

*This content was translated by AI.

Singer Swings spoke about his debt of 12 billion won.

On the 7th, a video titled "The man who returned after clearing a mountain of 12 billion won in debt and undergoing an inguinal hernia surgery" was posted on YouTube channel 'SPNS TV'.

In the released video, Swings is shown speaking frankly about the stories surrounding him.

On that day, Swings heard people say, "The atmosphere has changed," and he responded, "When I met last year, I only had extreme thoughts. There were too many reasons. One was being forcibly moved to the next chapter of my life. My identity was Swings, and I was the owner of Just Music and AP Alchemy. But eight artists left at once. I used to be a hip-hop entertainment company owner who earned decent money, but everything was collapsing. All efforts to nurture rookies failed, and I almost lost nearly all of the 12 billion won I borrowed."

Earlier, Swings confessed that he incurred a massive debt of 12 billion won due to business failures.

Swings said, "The money issue was truly huge. In a previous interview or somewhere else, I mentioned borrowing some amount from acquaintances, but it grew to 2 billion won. I am truly grateful. I realized I hadn't lived like a beggar that badly. Everyone tried to lend me money. That's how I'm paying the promised amounts to our singers."

Swings recalled, "I sold my music rights worth 14 billion won to a company called Music Cow. They bought about 40% of what was held by the company. Even if that company is large, it's difficult to pay 14 billion won all at once. So we agreed to pay in installments over two years. However, since I need to receive payments monthly, sometimes they are delayed. At that time, I would call acquaintances every day, feeling anxious, asking them to lend me money."

Swings added that he has almost paid off the 12 billion won debt, saying, "I am almost at the end of the tunnel. I can see a bit of light now."

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*This content was translated by AI.