Yang Chi-seung (51), a fitness trainer who suffered 1.5 billion won in losses from a contributed acceptance building lease and a deposit scam, even sold the car he had been driving to refund gym members' dues.
On the 13th, Yang Chi-seung posted a video titled Thank you for everything on the YouTube channel Yang Chi-seung's MakTube.
The nine-minute video shows the process of Yang Chi-seung selling the car he had been driving. Explaining why he disposed of the car, Yang said, "With not much time left before the gym (closure), I was trying to refund members' (dues), but I was short on money, so I thought I had to sell the car," adding, "Members pay in advance and register (with the gym), and I bought the car with that money, so that car belongs to the members. It's right to sell that (car) and return the dues."
Yang Chi-seung added, "Since harm must not be done to the members, I have to work hard to minimize any damage as much as possible," and said, "That is the least I can do."
The video also shows Yang Chi-seung giving a final class to members. He said, "In 25 years of running a gym, I never thought a day like this would come," and added, "I planned to run a gym until I died of old age, but unintentionally I ended up closing like this."
Yang Chi-seung then told the members who came on the gym's last day, "The gym will cease operations," and said, "I am very grateful and thankful."
Meanwhile, Yang Chi-seung revealed on a broadcast that he had been scammed out of about 500 million won in deposit money by a gym lessor. He then said he later learned that the building for which he signed the lease had been constructed under a contributed acceptance condition. It was a building with an agreement that said, "After 20 years of free use ends, management and operation rights will be transferred to the Gangnam District Office." After the agreement period ended, Gangnam District ordered Yang Chi-seung to vacate.
As a result, Yang Chi-seung is said to have suffered losses of about 1.5 billion won, including an unreturned deposit, facility costs, and member refunds.