Singaporean Businessman David Yong Showcases Lavish Lifestyle in Netflix's Super Rich In Korea

David Yong, a 37-year-old Singaporean businessman, has become a prominent figure in the Netflix series Super Rich In Korea. The show highlights his extravagant lifestyle, featuring private jet travel and luxury shopping sprees in Seoul's upscale Hannam district.

The series opens with Yong stepping out of a private jet, carrying a luxury Hermès bag, setting the tone for the opulence that follows. His lavish spending habits are further showcased as he embarks on shopping sprees in Hannam, where he famously declares, 'I will buy them all.'

Yong is the chief executive of Evergreen Group Holdings, a company primarily involved in general importing, exporting, and commission agency, which also encompasses luxury goods and art trading. He claims to be part of Singapore's top 1% super rich, with an estimated net worth above US$10 million (S$13.5 million).

Evergreen Group Holdings, formerly known as Evergreen Teak Trading, was incorporated in 1990 by Yong's father, Yong Ing Fatt. The company has diversified into financing investments across Southeast Asia, including Cambodia, Malaysia, and Vietnam, and has ventured into entertainment in South Korea.

Yong's appearance on the show has not been without controversy. Evergreen GH, another company owned by Yong, was placed on the Monetary Authority of Singapore's Investor Alert List in January 2023 for not being regulated or licensed to provide financial services in Singapore. Yong claimed that his company's name was fraudulently used by scammers and had made a police report.

The series also features Yong viewing a luxury apartment unit in La Terrasse, a high-end complex in Hannam district, with a price tag of 16 billion won (S$15.6 million). Despite the hefty price, Yong brushes it off as inconsequential, further highlighting his immense wealth.

Yong's lifestyle extends beyond his public persona. He owns 11 cars, including three in Singapore – a Rolls-Royce, a Porsche, and a McLaren. His home in South Korea is a rented apartment at Signiel Seoul, an upscale residence located in South Korea's tallest building, Lotte World Tower.

Despite his claims of owning various properties and vehicles, some discrepancies have been noted. The Singapore four-storey villa featured on the show is a rented 3,000 sq ft terraced house in Siglap, owned by someone unrelated to Yong. Additionally, the Porsche Macan 2.0 shown in the Netflix series is owned by his father.

Yong's business activities have also drawn scrutiny. Records from the Accounting and Corporate Regulatory Authority (Acra) show that Evergreen Group Holdings had a revenue of S$7.8 million in 2019 with a profit after tax of S$221,033. Nonetheless, Yong continues to assert his significant wealth and business successes.

In addition to his business endeavors, Yong has ties to the South Korean entertainment industry. He has released songs such as 'In My Pocket', 'Dripping', and 'Maybe Love', featuring RBW artiste Moonbyul of the girl group Mamamoo. In 2023, he announced that Evergreen Group Holdings would invest around 10 billion won in the K-pop label and agency Attrakt.

David Yong's appearance in Super Rich In Korea offers a glimpse into the life of a businessman who claims to be among Singapore's elite. While controversies and discrepancies surround his wealth and business dealings, the series undoubtedly portrays a life of luxury and opulence.

Key Takeaways

• David Yong, 37, is a Singaporean businessman featured in Netflix's "Super Rich In Korea" series.
• He claims to be part of Singapore's top 1% with a net worth above US$10 million.
• Yong's company, Evergreen Group Holdings, has diversified into financing and entertainment in Southeast Asia and South Korea.
• Controversy surrounds his company's regulatory issues and discrepancies in his wealth claims.
• Yong has ties to the South Korean entertainment industry, investing in K-pop label Attrakt and releasing his own songs.