2AM's Jokwon just had the most honest, unfiltered conversation about money with TVXQ's Max Changmin, 2PM's Jun.K, and GOT7's Jay B in the latest video posted on 'Saego_F5' Youtube channel on the 30th.
It all started off when Changmin asked the three former JYP artists about their very first paychecks. The contrast between how they started out vs. how the system works now is actually insane.
Jokwon dropped the biggest shocker, revealing that his first-ever paycheck after debuting was 240,000 KRW (which is only about $154 today). He explained how brutal the old contract system was:
"I trained for about eight years. Back then, trainees had to repay the company for every single cent invested in them out of their earnings."
He continued, "Around 2008, right after I debuted, the Korea Fair Trade Commission changed the rules so companies had to absorb those trainee investment costs. However, until Jun.K and I debuted, those costs were still our responsibility."
Because of that debt, Jokwon didn't receive his paychecks until exactly three years after his debut. During those three years, he was literally everywhere. He had become hugely popular through his iconic 'Kkap Kwon' character and 'We Got Married.' He said:
"I remember my first settlement statement perfecly because it was the first time it didn't have a minus sign. It was 240,000 KRW. Even though it was tiny, I was incredibly grateful."
He added, "The very next day, I ran straight to a mobile phone store to pay my phone bill with money I had earned myself for the first time."
Jun.K had a slightly different experience. He trained for about four years, which was the longest among the 2PM members. He said, "Thankfully, 2PM received a ton of attention right from our debut song, '10 Out of 10," but added:
"But we barely received any paychecks for about two years. I think I got my first paycheck around 'I'll Be Back' or 'Without You' promotions. It was about 5 million KRW (which is around $3,220 now)."
Meanwhile, Jay B had a much smoother financial start because he debuted after the Fair Trade Commission rules had already changed. He recalled:
"After getting my first paycheck, I talked it over with my parents and decided to save it all in one account instead of spending it. I still manage my money the exact same way today."
Hearing all these stories, Changmin couldn't help but realize how different things were over at SM Entertainment. He said:
"Thinking about it now, our first paycheck was actually quite large."
He admitted that because he didn't really have anything specific he wanted to buy at the time, he simply gave all of that money straight to his parents.
Honestly, hearing them look back on those early idol days makes you realize just how much the industry has evolved. I mean, imagine being one of the biggest stars on TV and only taking home enough to cover your phone bill.
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