Yang Chiseung Suffers 1.5 Billion Won Loss After Discovering "Donation in Lieu of Taxes" Clause... "I Sold My Car"

"Only Later Learned the Building Was Subject to 'Donation in Lieu of Taxes'"
"Money Paid to the Gym Wasn't Really Mine
Sold My Car to Refund Membership Fees"

Health trainer Yang Chiseung announced that he has closed his gym due to issues such as a deposit fraud related to the gym. Yang Chiseung YouTube

Health trainer Yang Chiseung, who suffered property damage of about 1.5 billion won due to a building lease scam, shared the process and behind-the-scenes story of closing his gym.

On September 13, a video titled "Thank You for Everything" was uploaded to Yang Chiseung's YouTube channel "MakTube." The video captured the overall process, including Yang conducting his final personal training session at the gym before closing, and the beginning of the demolition work.

Yang Chiseung had previously revealed on a broadcast in November last year that he was involved in a lawsuit with a landlord and a real estate agent. He explained that it had been more than two years since he was promised the return of his deposit, yet there had been no progress. More than 500 million won of his deposit was tied up, and he only later discovered that the building was subject to a "donation in lieu of taxes" (gibu chaenap), meaning it would have to be handed over to the district office after a certain period.

Health trainer Yang Chiseung announced that he has closed his gym due to issues such as a deposit fraud related to the gym. Yang Chiseung YouTube

Yang Chiseung said, "Just the deposit alone was about 500 million won, and including the facility costs here, I lost at least 1 billion won. I worked so hard for a long time, took out loans, and managed to pay it all off, but it all disappeared in an instant," he sighed.

The video also showed him selling his car to refund members' membership fees and class payments. He said, "After all, I bought that car with money that members paid in advance for the gym, so it was never really mine. I have to do my best to make sure the members are not harmed, and that is the least I can do."

When asked if things were difficult, he replied, "I just have a few tears in my eyes. I have to keep living my life and working hard."