'Retirement Rumors' Lee Hwijae Gains at Least 6 Billion Won in Market Value from Cheongdam-dong Villa

The Buyer is the Reconstruction Developer Nexplan

Comedian Lee Hwijae, who has been rumored to be retiring, recently sold a villa to a reconstruction developer, reportedly making a capital gain of 6 billion KRW.

According to the real estate industry on the 21st, Lee Hwijae recently sold a duplex unit (exclusive area of 69 pyeong) in Hyosung Villa 2 in Cheongdam-dong, Seoul, for approximately 9.0269 billion KRW. He originally purchased the property in March 2000.

Photo by KBS 2TV

The buyer is Nexplan, a real estate development company and the reconstruction developer of the Hyosung Villa complex.

The real estate industry stated that since Lee Hwijae bought the villa before the official price announcement, the exact capital gain is difficult to determine. However, considering that the sale price of Samik Apartment in Cheongdam-dong was 175 million KRW in 1998, it is widely believed that he made a capital gain of at least 6 billion KRW.

Other celebrities have also purchased this villa. Actor Jung Haein bought a unit in September 2018 for 4.4 billion KRW, and actor Kim Raewon purchased one in May 2020 for 3.7 billion KRW, both expecting reconstruction of the Hyosung Villa built in the 1980s.

Meanwhile, Lee Hwijae, who started as an FD, has been inactive since ending his activities on KBS 2TV's 'Year-round Live' in April last year. He debuted as a comedian through MBC's special recruitment in 1992 and continued broadcasting activities for 30 years before leaving for Canada in August last year with his wife Moon Jungwon and twin sons Seo-eon and Seo-jun.

At the time, his agency Cube Entertainment stated, "Lee Hwijae plans to stay in Canada with his family until the end of the year," but as he has long passed the initially promised return date and has also terminated his exclusive contract with Cube Entertainment, retirement rumors have gained traction.