'Hyesang Monk Involved in Full Ownership Controversy Suspected of Purchasing Riverview Apartment in New York, USA'

Hye-min Sunim's US Name, Ryan Bongseok Ju
Purchased a 25-Pyeong Residential-Commercial Apartment with a 500 Million Loan... Includes Swimming Pool and Gym Inside

Hye-min Sunim. [Photo by Yonhap News]

[Asia Economy Reporter Heo Midam] Recently, Hye-min Sunim, who halted activities amid controversy over building ownership, has been suspected of purchasing an apartment in New York, USA, even after becoming an ordained monk.

On the 2nd, Yonhap News disclosed a registration record suspected of showing that Hye-min Sunim purchased real estate after becoming a monk.

According to the report, an analysis of the real estate registration records on the New York City registry website under the name "Ryan Bongseok Joo" revealed that in May 2011, he, along with a foreigner Mr. B, bought a mixed-use apartment in Brooklyn, New York, for about $610,000 (approximately 670 million KRW).

Ryan Bongseok Joo is the legal name of Hye-min Sunim, who holds U.S. citizenship. The Korean corporate registry of 'Maeumsueop,' a corporation he represents, also lists "CEO U.S. citizen Joo Bongseok (JOO RYAN BONGSEOK)" as the representative.

At the time of the apartment purchase, Ryan Bongseok Joo and Mr. B reportedly took out a loan of about $450,000 (approximately 500 million KRW) to finance the transaction. The apartment they bought measures 923 square feet (sq.ft), approximately 85.7 square meters (25.9 pyeong). The current market price is about $1.2 million (approximately 1.323 billion KRW), roughly double the 2011 purchase price.

The registration records show no record of the two selling the apartment, suggesting they have retained ownership to date. The apartment is located in a 30-story mixed-use building constructed in 2010, featuring a swimming pool, a fitness center, and a 'riverview' overlooking the East River.

Ryan Bongseok Joo and Mr. B also jointly purchased an apartment in the Queens area of New York in 2006, which they sold several years later.

Hye-min Sunim. Photo by tvN, On and Off broadcast screen capture.

Hye-min Sunim became a novice monk in 2000 after receiving the samanera precepts at Haeinsa Temple and was ordained as a full monk of the Jogye Order of Korean Buddhism in 2008 after receiving the bhikkhu precepts at Jikjisa Temple.

The Jogye Order regulates its monks through the 'Monk Act,' a religious law that restricts affiliated monks from acquiring property in their personal names for purposes other than public interest or saving sentient beings.

Previously, Hye-min Sunim sparked controversy over so-called 'full ownership' after revealing a home with a view of Namsan Tower and showing expensive electronic devices on a recent entertainment program.

Regarding the controversy, Hye-min Sunim stated on his SNS, "As a practitioner, I thought I was trying to spread the Dharma in the world in the way I could, but due to my shortcomings, I caused discomfort to many people. I deeply regret not fulfilling my duties as a monk." He added, "I will step down from all activities and return to a public meditation center to study the Buddha's teachings again and devote myself to practice and prayer."

He continued, "I repent to all those who were hurt and disappointed by this incident," and added, "I hope that my matters will no longer cause harm to many monks who are diligently practicing in the mountains and to the Buddhists who are praying, even at this very moment."