"배꼽이 배보다 큽니다."
Translation:The belly button is bigger than the belly.
Regarding food, I've heard "your eyes are bigger than your stomach" when you put too much food on your plate and can't finish it all, but we don't apply this to generally "missing the big picture" or like another example here of "repairs costing more than buying the item new" like the Korean term seems to mean.
Another idiom in English is "putting the cart before the horse", which means missing the big picture, in a general sense. For houses or higher-priced items like that, we call them "a money pit" meaning you just continually pour money into it like it's a black hole without it really being worth the costs. In car insurance I also hear "totaled", meaning the car is worth less fixed than the repairs will cost, (this isn't used often when the transmission or engine just goes out due to old age and is an expensive repair-job, but it is regularly used after a traffic accident.) I'm sure there's a better one for things costing more than their worth, more generally, but I'm only coming up with specific examples that are narrow in applicability. Other ideas from everyone?