Taiwanese Comedian Peng Chia Chia Now Selling Kimchi With His Son To Clear Off S$2mil Debt
But why are netizens saying he is “trying to rip people off”?
Taiwanese comedian Peng Chia Chia, 66, filed for bankruptcy in 2020 after racking up a NTS240mil (S$10.4mil) debt from failed business ventures.
A year ago, he announced that he was planning to recruit a team to invest in NFTs (non-fungible tokens) in order to pay off his debts.
That plan was not well received by netizens, who believed that it was risky to dabble in something that was not guaranteed to succeed. They also doubted Chia Chia's ability to pay wages given his financial situation.
Although it was never confirmed if Chia Chia’s NFT plan took off, it was recently reported that he managed to pay off the bulk of his debts and is now left with NT$60mil (S$2mil) to clear.
Recently, the comedian has embarked on a new venture, this time selling kimchi with his 34-year-old son, Pi Pi.
Last week (Apr 9), Chia Chia went on Facebook to share a pic of Pi Pi and him delivering kimchi to their customers.
He thanked his son for his help and support, saying that he has always told Pi Pi that “people should be responsible for whatever happens in their own life”.
Sadly, Chia Chia's current business is not sitting well with netizens, many of whom have criticised him for “trying to rip people off”.
There were many who also questioned if he could really make enough money to pay off his debts from selling kimchi.
In response, Chia Chia took to social media on Wednesday night (Apr 12) to explain his reasons for starting a kimchi business.
He first revealed that his friends and relatives have expressed their worry for him, saying: “The cost of making kimchi is low but so are the profits. How can you possibly pay off your debts by selling kimchi jar by jar?”
However, Chia Chia is confident that it will do well.
He will not open a physical store, and instead, will continue selling his product online.
“The good thing about having an online business is that I won’t have to pay for renovations and rent. Employee wages are also at a fixed sum, so [I] can use the money saved to invest in making better products,” he said.
Chia Chia believes that the beginning of every venture is bound to be tough. “If you are willing to fight for it, you will definitely enjoy returns in the future," he added.
Chia Chia also said that he is getting better at using social media to promote his business.
“I hope others will stop thinking that I am starting this business with the intention of ripping people off. I don’t need pity from anyone. Those who have tried [my kimchi] have all said that it tastes good. If it's not good then don’t buy it,” he wrote.
He believes that one needs to be confident and not feel ashamed when starting a business to make money.
“This time, I want to stand on my own feet, and return all the money I owe,” he proclaimed.