![Yeongsu, a contestant on ENA and SBS Plus' "I Am Solo" [ENA·SBS Plus "I Am Solo" capture]](https://wimg.heraldcorp.com/news/cms/2026/06/08/news-p.v1.20260608.a10104b346124200a9e8321d2444e49a_P1.jpg)
Yeongsu, whose real name is Kim Ha-seop, appeared on the divorcee special of the ENA and SBS Plus reality show "I Am Solo" as a 28th-season contestant. His startup, Medipresso, is now undergoing bankruptcy proceedings, according to industry sources.
The company recently sent a shareholder letter to investors informing them of the bankruptcy process, sources in the food industry said Monday.
Kim founded Medipresso in 2016 after leaving his job at SK Hynix. The startup built its market pitch around capsule-format products that brew traditional Korean teas like espresso. The company is reported to have raised a cumulative 7 billion won ($4.54 million) in investment on the strength of that concept.
But the financials told a different story. According to data from the Korea Agro-Fisheries and Food Trade Corporation's food industry statistics service, Medipresso's sales grew from 1.18 billion won in 2021 to 3.474 billion won in 2024 — a several-fold increase, but far short of the 17.5 billion won revenue target the company had set for 2025 during its crowdfunding campaign.
Operating losses piled up every year over the four-year period: 1.464 billion won in 2021, 893 million won in 2022, 184 million won in 2023 and 607 million won in 2024, totaling more than 3 billion won in cumulative operating losses.
Net profit was in the red for three of those four years, with only a slim 4 million won surplus in 2023. The combined net loss for the remaining three years approached 1.5 billion won.
With the company now in bankruptcy, investors are expected to absorb significant losses.
paq@heraldcorp.com
