Rapper Swings recalled the time he took on about 12 billion won in debt after a business failure and confessed to extreme pain.
On the 6th, a video titled "The man who came back after shedding 12 billion won in debt and having his vasectomy undone | Swings and Shoes Off" was released on the YouTube channel SPNS TV.
That day, Swings recalled the days when he ran a hip-hop label and said "the company collapsed when eight people left at once. I failed to nurture new artists, and I almost lost the 12 billion won I borrowed to grow the company."
He recalled, "I repaid about half of the 12 billion won, but I was at a loss about how to pay back the rest," and said, "money problems were the hardest." He added, "The money I borrowed from acquaintances kept increasing to about 2 billion won," and said, "Someone readily lent 300 million won, someone lent 800 million won. With that money I could keep promises to the artists under the company. I was truly grateful."
To repay the debt, he also sold part of his music rights. Swings said, "I sold about 40% of the music rights I held on 'Musicow' for about 14 billion won," and explained, "It was not paid all at once but agreed to be paid over two years." He honestly confessed, "When the money did not come in on time each month, I would fret and also contact acquaintances to ask to borrow money again."
He said the psychological pressure at the time was also great. Swings confessed, "Around me were people with assets of around 10 billion won as well as someone who ran a 3 trillion won company," and said, "Everyone reinvested money to grow their assets, but I felt like I was buried 30 meters underground. I was out of my mind and very depressed."
He said, "If my life is a factory, it has to keep running. Even if it can stop briefly, if it stops completely it's over," and added, "Going through that period 3 to 4 years ago, I was not in self-pity but truly plunged into pain."
Fortunately, he said the situation has improved a lot now. Swings revealed, "I have almost repaid the 12 billion won," and said, "Now I can begin to see a little light at the end of the tunnel," attracting attention.
[Photo] "YouTube"
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