From Rags to Riches: Hotel Magnate Yuk Kwang-sim Becomes 'School Tycoon,' Reveals Secrets to Success and Philanthropy

Yuk Kwang-sim, who rose from humble beginnings to become a 'building magnate' and now a 'school tycoon,' has garnered admiration for his genuine commitment to nurturing future talent and his unique approach to community coexistence.

In the episode of EBS's 'Neighbor Millionaire' hosted by Seo Jang-hoon, aired on the 12th, Chairman Yuk Kwang-sim, who is cultivating future hotel professionals at Korea's largest hotel school, shared his warm educational philosophy and secrets to success.

Yuk, once a penniless boy from a remote village dreaming of becoming a goat farmer, was using a hotel building, acquired for approximately 65 billion Korean Won, as an educational facility for his students.

In his younger days, Yuk majored in tourism. After landing his first job at a culinary academy in Yeongdeungpo, Seoul, he married his childhood sweetheart at the young age of 23. He sold their newlywed apartment, moved into a basement studio, and used the profits to start his own culinary school.

His wife recalled the difficult times, saying, "I was anxious. We had no money in the bank... I cry thinking about it. But it was something my husband had to do, so I followed."

He differentiated his marketing by offering personalized 'in-home consultations' to potential students who called after seeing flyers posted on utility poles, significantly boosting enrollment rates. By the early to mid-1990s, his culinary school had gained a reputation as a 'master academy,' achieving annual revenues of 1 to 2 billion Korean Won. Seo Jang-hoon remarked, "That's practically a mid-sized company."

Aiming to purchase the building where his culinary school was located, Yuk also ran a packed lunch delivery business alongside his teaching. He reduced his sleep hours, preparing lunches from dawn and delivering them early in the morning, followed by lectures during the day – a grueling schedule. Seo Jang-hoon empathized with Yuk's relentless effort, stating, "Many people ask how to make money. If you sleep when others sleep and play when others play... how can you possibly earn money?"

At the age of 37, he purchased the building housing his academy for 6 billion Korean Won and transformed the culinary school into a 'hotel school' to foster talent not limited by academic background.

Currently, Yuk's hotel boasts around 400 rooms, responsible for the practical training of students aspiring to be hoteliers, bakery specialists, and more. Half of the facility serves as student dormitories, while the other half operates as a commercial hotel for guests.

A poignant story was also revealed: to facilitate student education, he acquired 'Dome Night,' a popular rooftop nightclub, after three years of persistent negotiation with the owner.

His residence, which sits on over 3,000 pyeong of land, was also featured. The luxurious home, with its elegant chandeliers and stylish kitchen, featured a backyard with a golf practice range and a jjimjilbang (Korean sauna), which he opened to the local community.

Furthermore, he is currently operating two middle schools and one high school in Yesan, Chungnam, which were on the verge of closure. Chairman Yuk stated, "If schools disappear from a region, aren't we taking away the opportunity for education? I believe the existence of a school is tied to the existence of the region." He dedicates himself to supporting these schools, investing 40 to 50 million Korean Won annually without taking a salary.

"If you consider wealth accumulation, then yes, I am wealthy. But if you ask if I have succeeded, I don't believe I have succeeded yet. Only when the students I've taught succeed can I say I have succeeded," he declared, emphasizing the value of social contribution to his children and revealing his deep commitment to nurturing future generations.

Netizens reacted with awe, commenting, "He's truly an amazing person. His path to success is tear-jerking," "It's respectable that he even acquired schools for the sake of future generations," and "His sincerity in his words touched me deeply."