South Korea is moving forward with discussions on a “Korean Coogan Law” aimed at protecting the earnings of child entertainers. The proposal comes in the wake of public concern over the financial hardships faced by late actress Kim Sae-ron, despite her early success as a child star.
Representative Bae introduced the bill in June, requiring 50% of a minor entertainer’s income to be placed in a trust until they reach adulthood. The initiative seeks to prevent parents or guardians from mismanaging or depleting their children’s earnings, ensuring long-term financial stability for young performers.
The legislation takes its cue from the United States’ Coogan Act, which was enacted in 1939 after child actor Jackie Coogan discovered his parents had squandered his fortune. Under U.S. law, at least 15% of a child performer’s income must be secured in a trust, which cannot be accessed without court approval.
In South Korea, concerns escalated after reports revealed that Kim Sae Ron, who earned significant income from her work as a child, struggled with debts and financial instability as an adult. During past legal proceedings, it was disclosed that her father had filed for bankruptcy, with Kim listed as a creditor for a substantial amount of unpaid funds.
Public sentiment strongly supports the proposal, with many arguing that systematic protection is overdue:
- I think a similar law was made in the U.S. because of those kid YouTubers.
- We really need something like this.
- This is honestly necessary.
- Yoo Seung-ho also became a child actor because his family was poor… He acted all the way through middle and high school because of financial struggles, and as soon as he became an adult, he enlisted in the military. He said he thought, “If I get the draft notice, I can escape from acting,” so he went.
- I once saw a case where the father of a child model — someone whose face and name aren’t even known — bought a small building in Gangnam with his daughter’s money. Kim Sae-ron must have earned a lot more…
- But then again, turning into an adult doesn’t suddenly mean you gain the ability to protect your money. I wish there were protections until at least Korean age 24. As soon as they hit 20, people will swarm like vultures trying to suck them dry. What does a 20-year-old even know? The most dangerous time is right when they’ve just become an adult.
The proposed Korean Coogan Law is currently under public hearing, and industry experts predict it could mark a turning point in child labor rights within Korea’s entertainment sector, which has seen an increasing number of minors rise to stardom in K-pop and acting.
If enacted, the law could establish a critical financial safety net for child entertainers, reducing the risk of exploitation and ensuring that young performers retain access to the wealth they generate.
Sources: Theqoo
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