Red Velvet has been sitting atop K-pop charts with their infectious music for years now, and aren’t ready to give up their throne yet! The SM quintet, comprising Irene, Seulgi, Wendy, Joy and Yeri, have dabbled between their predominantly pop and cutesy style in songs like Dumb Dumb and flaunted their more mature, funky style in powerful ballads like Psycho – treating fans to innovative pop sounds that even K-pop prodigies like BTS and BLACKPINK haven’t delivered yet. Being one of the most popular K-pop girl groups in the world is no easy feat and the girls have clocked in mad hours to build a legacy and earn those envious paycheques! Whether it’s from their group outings, solo activities, sold-out concerts or lucrative brand deals – Red Velvet members have amassed massive wealth and boast an impressive net worth!
Ever since their 2014 debut with Happiness, the group has released two studio albums and around 10 EPs, many of which bagged top awards and recognitions in South Korea. They’ve appeared in the Forbes Korea Power Celebrity list multiple times, have been named one of the most popular K-pop groups by Time and Billboard and even stand as one of the most streamed K-pop artists worldwide on Spotify. Given that Red Velvet has built its own empire in less than a decade, it will be interesting to see what’s their net worth and who’s the wealthiest member of the girl gang. Keep reading!
What is the net worth of Red Velvet?
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As of 2022, Red Velvet’s combined net worth stands at USD 8.06 million, according to KBIZoom (via Networthspot).
The group has broken several musical records over the years, starting with becoming the first K-pop girl group to chart a debut single on the Billboard World Digital Songs with their debut single Happiness. In April 2018, Red Velvet became the first-ever K-pop group to perform in North Korea since 2003, as part of a special concert. If that’s not enough, they’re also the first K-pop girl group to top the ‘World Albums’ chart four times, thanks to their tracks The Red, Rookie, The Red Summer, and Perfect Velvet.
In 2017, the girls also got their own reality TV show, Level Up Project, which showcases the BTS footage of the members as they visit different parts of the world in between promotions. The Korean variety show has been filmed across locations like Pattaya, Slovania, Seoul and Jeju.
Coming to their brand collaboration deals, each member has racked up deal after deal with luxury maisons. These include Prada, Miu Miu, Ferragamo, Damiani and Hogan. Their luxury portfolio is only expanding with time, adding to their whopping net worth. Their global brand power is even reflected in their inclusion in various celebrity power lists. In 2019, Billboard crowned Red Velvet as ‘the best idol group alive’. The South Korean government has also credited the group for largely promoting K-pop around the world.
Red Velvet members: Earnings, endorsements and more
All five members have also branched out of group activities and cemented their credibility as soloists, worked with notable brands and made impressive investments – all of which have added to their individual net worths. Let’s take a look:
1. Irene’s net worth
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The charismatic leader of Red Velvet, Irene has branched out as a television host and actress apart from partaking in the group’s activities. She’s hailed as the ‘CF queen’ given her massive brand power and numerous endowment deals ranging from cosmetics, apparel and even basic commodities.
Irene was announced as the brand ambassador of Prada in 2020 alongside EXO‘s Chanyeol. The idol/actress heavily promoted Prada’s fashion looks on her Instagram handle, treating all fashion aficionados with the brand’s exquisite apparel.
Before Irene’s Prada deal was her partnership with Miu Miu. Following her brand ambassadorship announcement, the artist even attended their show at the Paris Fashion Week in 2019. Irene was decked head to toe in their Spring/Summer 2019 collection, wearing their fitted black blazer worth USD 1,900 and a stunning gold dress.
If you thought that was all, hold on! Irene has also the legendary luxury jewellery brand Damiani in her brand portfolio. Did you know that Irene’s the first Asian to represent the brand as a muse? Additionally, Irene has been the brand ambassador for Clinique and was also the face of Hyundai Motors, HiteJinro Chamisul soju brand and more.
Coming to her filmography, Irene has been a part of movies like SMTown: The Stage and Double Patty. She also released the OST for Double Patty, which marked her first solo music. Moreover, she had a cameo role in one of the most famous Korean shows, Descendants of the Sun.
Given her expansive work portfolio, Irene has a net worth of USD 4 million in 2023, according to Kpop Starz.
2. Seulgi’s net worth
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Not only is Seulgi a part of the Red Velvet quintet, but also its sub-unit Red Velvet (alongside Irene) and the supergroup Got The Beat (alongside bandmate Wendy). Even before debuting with the girl group in 2004, Seulgi featured in Canadian singer Henry Lau’s songs Butterfly and Fantastic.
Apart from collaborating with various musicians throughout her stint with Red Velvet, Seulgi debuted as a soloist with the release of her first EP, 28 Reasons, in 2022.
Just like her bandmate Irene, Seulgi is also one of the most sought-after K-pop stars. She started off by modelling for Nike Korea”s collection for the South Korean national football team in 2018. In the same year, Seulgi became the first female brand ambassador of Converse Korea and started out by fronting their ‘One Star’ campaign which was a massive hit. Further on, she was also announced as the face of Coca-Cola’s 2020 campaign ‘Little Big Moments’ alongside actor Park Bo Gum. That’s not all! Seulgi has also worked with L’Occitane as well as Volkswagen.
Seulgi tasted her first major luxury brand deal with Italian luxury brand Salvatore Ferragamo in 2021. The collaboration kicked off with the brand’s shoe capsule collection campaign, Let’s Dance. Since then, she has actively promoted the brand and even made stunning appearances at their fashion pop-ups.
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A famous television personality, Seulgi has starred in a number of shows like Off to School, Law of the Jungle in Mexico, Battle Trip, Cool Kids and more, She also made a cameo appearance in Descendents of the Sun.
Looking at this portfolio, Popular Networth and other sources claimed that Seulgi’s net worth also touched USD 4 million in 2023.
3. Wendy’s net worth
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A member of both Red Velvet and Got The Beat, Wendy’s is a gifted vocalist who has also successfully built a flourishing career as a soloist and television personality. She made her solo debut with the 2021 EP Like Water, which contained a total of five songs. Wendy has also lent her voice to various drama soundtracks, including those for Uncontrollably Fond, The Beauty Inside, Touch Your Heart and The King: Eternal Monarch.
Talking about her television appearances, Wendy has starred in more than 10 shows in the capacity of a host, panellist and contestant. Not to miss her cameo avatar in Descendents of the Sun.
As for brand endorsements, Wendy hasn’t landed any major luxury partnerships yet. She became a presenter of Dongwon Yangban Rice Porridge alongside Irene in 2018, while also joining the L’Occitane Korea family as a muse for their 2020 ‘Be Happy, Smile Again’ campaign. In 2021, Wendy became the presenter of cosmetic brand Pond’s and has filmed various campaigns for consumers in Korea, Thailand and Indonesia.
All of these ventures have brought her net worth to nearly USD 4 million in 2023, Kbizoom reports.
4. Yeri’s net worth
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Kim Ye-rim aka Yeri was introduced as the fifth and final member of Red Velvet in 2015, during the promotion of their first EP, Ice Cream Cake. Following her revelation as a Red Velvet member, Yeri joined labelmate Minho from SHINee and N from VIXX as a host for MBC’s music show, Show! Music Core. Apart from partaking in the group’s activities, Yeri continued with her solo ventures and collaborations with other musicians. Finally, in 2019, the music video of Yeri’s first self-composed solo project, Dear Diary, was released.
Yeri also bagged her first solo show, Yeri’s Room, where she was also the main host. Not only this, Yeri starred in tvN’s one-act drama Drama Stage and was selected as the female lead in web series like Blue Birthday and Bitch X Rich. She also made a cameo appearance in Descendents of the Sun just like her bandmates.
Talking about brand collaborations, Yeri partnered with make-up brand Notre Colette to launch her own lipstick collection in 2020. She also modelled for the Korean cosmetic brand, AprilSkin, in the same year.
Taking into account all these alongside her earnings from Red Velvet’s activities, Yeri’s net worth amounts to USD 2 million in 2023, according to Kbizoom.
5. Joy’s net worth
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It’s safe to say that Joy is the most popular Red Velvet member and one of the most celebrated K-pop idols. Besides her flourishing career as a musician, Joy branched out as an actress with the fourth season of the variety show, We Got Married. Since then, she has gained popularity for her roles in TV dramas like The Liar and His Lover, Tempted, The One and Only, and Once Upon a Small Town.
She officially debuted as a soloist in 2021, with the mini-album Hello, led by the title track of the same name. The title track topped the iTunes Top Album Charts in 26 countries. Meanwhile, all the other songs in the album made it to the Gaon Digital Chart, with Joy bagging the top spot on the MelOn Female Solo Artist Chart.
Joy has also scored a number of solo CFs, which add massively to her net worth portfolio. In 2018, she became the model and endorser for Lotte’s liquor drink Fitz alongside BTOB’s Yook Sungjae. She was also the official muse for Amore Pacific’s make-up and skincare brand, eSpoir.
Additionally, she has been the face of Aveda South Korea, Estee Lauder’s subsidiary company. In the following years, Calvin Klein picked her up as the face of one of their 2021 campaigns in Korea, and in 2023, she was chosen as the new global brand ambassador for Fresh Beauty, under LVMH. Lastly, she became the South Korean ambassador of Tod’s Italian luxury brand, Hogan, in 2021.
These, paired with her Red Velvet activities, make Joy the wealthiest member of the group. Multiple outlets reported that Joy’s net worth in 2023 amounts to USD 5 million.
Who’s your favourite Red Velvet member?
(Hero and feature image credit: redvelvet.smtown/ Instagram)
Frequently Asked Questions (FAQs)
- What is Red Velvet’s net worth?
According to multiple reports, Red Velvet’s combined net worth stood at USD 8.06 million in 2022.
- Which is the richest K-pop girl group?
BLACKPINK is the richest K-pop girl group.
- Which is the richest K-pop company?
HYBE Corporation is the richest K-pop company.
The story first appeared on Lifestyle Asia Hong Kong
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