Lee Deok-jae, known widely as the ‘Ice Man’ during his heyday as a comedian, recently shed light on his financial downfall and personal struggles after leaving the entertainment industry. His candid reflections came during the February 27, 2025, broadcast of MBN’s ‘Special Report World,’ where he revealed how he went from earning significant money to losing it all and applying for bankruptcy.
Once the talk of the town, Deok-jae recounted, "That was my heyday, so of course I miss it and was happy." His anecdotes about his previous life were not without nostalgia, as he shared, "I made as much as 5 million to 6 million won per day, and I earned about 15 million to 20 million won within just one week. That wasn't forever, but it was like this at the time."
Those glory days, he admitted, came at a price. Reflecting on his extravagant lifestyle, Deok-jae confessed, "I was living extravagantly, unable to humble myself, and I was going overseas to play without working." He recalled the lavish expenditures, such as flying first class and staying at five-star hotels, often funded by debt rather than savings.
"I ended up losing all of my savings of 500 million won and ended up with 300 million won of debt, applying for bankruptcy," he disclosed, illustrating how quickly fortune can fade. After distancing himself from the entertainment scene, due to sporadic acceptance of various job offers, he said, "I was not available for work and eventually, I wasn’t invited back because I was seen as not working anymore."
The financial strain led to devastating personal consequences. Deok-jae revealed, "I’ve lived alone for about seven years," reflecting on how his lifestyle not only affected his career but shattered his family life. He expressed regret about how his decisions impacted his marriage and relationship with his daughter, stating, "If I had controlled myself and lived for my family, I would have formed a harmonious family."
Now, as he builds his new life as a used car dealer, Deok-jae is making strides to recover from his past. He openly shared his story for the first time on television, emphasizing the lessons learned along the way. He noted, "During the past few years, I’ve lived alone, and sometimes I think my life would have gone differently had I made different choices." The comedian’s honesty about his struggles resonates with anyone who has experienced setbacks.
Despite the weight of regret, Deok-jae holds on to hope. He mentioned a new romantic relationship, sharing, "I met my girlfriend, who is ten years younger, through mutual friends during one of the toughest times of my life." Their companionship has brought him solace and companionship, with Deok-jae stating, "I believe happy days will come if we live each moment to the fullest and stay positive."
Both regretful and hopeful, the story of Lee Deok-jae serves as a reminder of the unpredictability of life, the importance of humility, and the possibility of redemption. It highlights how personal growth can emerge from the ashes of past mistakes, providing encouragement to those facing their own struggles.