Big Bang's G-Dragon Purchases 16.4 Billion Won Apartment in Hannam-dong... Paid Entirely in Cash

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyung-min] G-Dragon of the group Big Bang and webtoon artist Park Tae-joon have attracted attention by consecutively purchasing ultra-high-priced real estate worth hundreds of billions of won.

According to the cultural industry on the 3rd, G-Dragon purchased a penthouse with a supply area of 299.74㎡ (approximately 90 pyeong) in the luxury apartment complex 'Nine One Hannam' in Hannam-dong, Yongsan-gu, Seoul, for 16.4 billion won in March.

According to the real estate registry of this apartment, it is estimated that G-Dragon paid the full amount in cash without any mortgage loan. Besides G-Dragon, some members of BTS, singer Jang Yoon-jung, and announcer couple Do Kyung-wan are also known to own units in this apartment.

Famous webtoon artist Park Tae-joon, who serialized works such as 'Lookism,' 'Fight Class,' and 'Life is a Mess' on Naver Webtoon, was also confirmed to have recently purchased a high-priced building close to 80 billion won. According to the Ministry of Land, Infrastructure and Transport's commercial real transaction price statistics and court registry, J Studio Co., Ltd., headed by Park, directly purchased the Emporia Building in Nonhyeon-dong, Gangnam-gu, Seoul, for 79 billion won on March 11.

J Studio set up a maximum secured claim of 82.2 billion won in mortgage rights with Kookmin Bank, NongHyup Bank, and Shinhan Bank on March 25 and 31. Banks typically set collateral rights about 20% higher than the actual loan amount when providing real estate secured loans. Considering this, it appears that approximately 68.5 billion won was borrowed to purchase the building.