The Most Expensive Home Owner Worth 40 Billion KRW Nationwide is Chairman Lee Kun-hee

Chairman Lee Kun-hee's detached house in Itaewon-dong (Photo by Yonhap News)

[Asia Economy Reporter Onyu Lim] The residence of Samsung Electronics Chairman Lee Kun-hee in Hannam-dong, Yongsan-gu, Seoul, has been revealed as the most expensive house in the country.

The publicly announced expected prices for individual detached houses nationwide were recently disclosed by local governments. According to the Seoul Real Estate Information Inquiry System on the 5th, the publicly announced price of Chairman Lee's Hannam-dong residence (1245.1㎡) is expected to rise 2.6%, from 39.8 billion KRW last year to 40.85 billion KRW this year. This is the highest among the expected prices for individual detached houses nationwide.

The period for viewing the expected announced prices is until the 8th. Afterward, the final announced prices will be determined following objection submissions and other procedures.

The second most expensive individual detached house nationwide is also owned by Chairman Lee. It is his residence in Itaewon-dong, Yongsan-gu, Seoul (3422.9㎡). The announced price of this house will increase 1.2%, from 33.8 billion KRW last year to 34.2 billion KRW this year.

The third place goes to Shinsegae Group Chairwoman Lee Myung-hee's Hannam-dong residence (2604.7㎡). It is estimated to rise 3.0%, from 27.9 billion KRW last year to 28.74 billion KRW this year.

Additionally, Hyundai Motor Chairman Chung Mong-koo's Hannam-dong residence (950.7㎡) will increase 3.9%, from 10.9 billion KRW to 11.32 billion KRW, and Shinsegae Vice Chairman Chung Yong-jin's house (2049.2㎡) will rise 2.9%, from 27.1 billion KRW to 27.9 billion KRW.

Among former presidents' residences, the largest increase is seen in former President Chun Doo-hwan's house in Yeonhui-dong. The main building of the Yeonhui-dong residence (419.5㎡) is expected to rise 10.4%, from 2.75 billion KRW last year to 3.037 billion KRW this year. The annex (257.5㎡) will increase 11.2%, from 1.03 billion KRW to 1.145 billion KRW. Currently, the main building is owned by Chun's wife, Lee Soon-ja, while the annex is shared by their third daughter-in-law, Lee Yun-hye.

Former President Lee Myung-bak's residence in Nonhyeon-dong (1299.1㎡) will increase 4.6%, from 9.71 billion KRW to 10.16 billion KRW, and former President Park Geun-hye's residence in Naegok-dong (570.6㎡) will rise 4.6%, from 1.4 billion KRW to 1.464 billion KRW.