Actor Park Min-young appointed as 'Inside Director'... Monthly rental income of 37 million KRW from 11 billion KRW building

Building in Amsa-dong, Gangdong-gu, Seoul, Annual Yield Around 4%
Purchased in April 2018 for 4.38 Billion KRW

Actor Park Min-young's family corporation is reported to have purchased a building valued at approximately 11 billion KRW.

On the 10th, News1 estimated the annual yield of the building, which is operated as a rental property, to be around 4%, reporting this information. The building, located in Amsa-dong, Gangdong-gu, Seoul, was purchased by the family corporation where Park Min-young serves as an inside director in April 2018 for 4.385 billion KRW. The expected rent includes a deposit of 500 million KRW and a monthly rent of about 37 million KRW.

Actor Park Min-young [Image source=Park Min-young SNS]

After paying the remaining balance, the building was placed in a trust, and a maximum bond amount of 3 billion KRW was set after reconstruction. Considering that the maximum bond amount is usually set at about 120% of the loan, it is estimated that approximately 2.5 billion KRW was borrowed.

Building Road Real Estate Brokerage estimated the total floor area to be 408 pyeong and reported that the construction cost at the time was about 6 million KRW per 3.3㎡, estimating the construction cost to be around 2.4 billion KRW. Calculating the land purchase cost of 4.385 billion KRW, acquisition tax and brokerage fees of 250 million KRW, reconstruction cost of 2.4 billion KRW, and interest expenses, the acquisition cost is estimated to be around 7.2 to 7.3 billion KRW. The current market price is observed to be around 11 billion KRW.

The building is located 400 meters from Amsa Station on Line 8, about a 6-minute walk. It faces a 25-meter-wide main road right in front. In the future, the extension of Line 8 will connect Dasan and Byeollae New Town.

Directly Operated Mobile Phone Store of Bithumb Affiliate on the 1st Floor

Park Min-young was registered as an inside director of the small construction company One Stone on April 25 last year. She was first appointed as an inside director in June 2018, with her term expiring in June 2021, but she was reappointed in February this year. At the time of her first appointment, Park Min-young provided her family home in Cheongdam-dong as collateral to One Stone, enabling a real estate loan of 2.16 billion KRW. Her agency, Hook Entertainment, explained, "The small construction company where Park Min-young is registered as an inside director is operated by her family, and all they do is purchase buildings and operate rental businesses."

Park Min-young was previously under public scrutiny following dating rumors with Kang Jong-hyun, who was known as a reclusive wealthy individual in 2022. Kang Jong-hyun was suspected of being the actual owner of Bithumb affiliate companies. He was arrested and indicted in February for embezzling 62.8 billion KRW from Bithumb affiliates from 2020 until September last year. On the first floor of the building, there was a directly operated mobile phone store of Bithumb affiliate 'IT.' The lease for this store expired in January this year.