Why did he buy that... Kian84 becomes a '6.2 Billion Won Property Owner' after 5 Years

Building Near Seokchon Station Currently Valued at Approximately 6.2 Billion KRW
Recent Yeouido Officetel Purchased for 400 Million KRW in Full Cash

Webtoon artist and broadcaster Gian84's building purchased in 2019 has increased in value by approximately 1.6 billion KRW over five years. On the 1st, News1 cited Building Road Real Estate Brokerage Agency, reporting that "the current market price of the building near Seokchon Station in Songpa-gu, Seoul, which Gian84 contracted in November 2019, is about 6.2 billion KRW." Previously, Gian84 contracted this building at 52.04 million KRW per 3.3㎡ of land, totaling 4.6 billion KRW. Considering that loans are typically set at around 120% of the value, it is estimated that about 2.9 billion KRW was borrowed.

Webtoon artist and broadcaster Gian84's building, purchased in 2019, has increased in value by approximately 1.6 billion KRW over five years.
[Photo by Moon Honam munonam@]

Constructed in 1988, the building has one basement floor and four above-ground floors, with a land area of 88.39 pyeong and a total floor area of 242.77 pyeong, serving as a neighborhood living facility located on a corner with a 10m×4m road. It is a 10-minute walk to Seokchon Lake and a 5-minute walk to Seokchon Station. Currently, all floors of the building are used as commercial spaces and offices, functioning as neighborhood living facilities.

At the time of purchase in 2019, the popularity of Seokchon-dong was lower than it is now, but recently, the market prices of nearby buildings have all been on the rise. A building 200 meters closer to Seokchon Station than this one was traded last October at 62.45 million KRW per 3.3㎡, and a building 50 meters away, completed 12 years ago, was sold at 89.02 million KRW per 3.3㎡. Applying these figures, the current market price of Gian84's building is estimated to be about 6.2 billion KRW.

Since the building is over 30 years old, there are expectations that it could generate higher rental income through changes in usage. Additionally, with the addition of Line 9 near Seokchon Station, where express trains stop, demand has increased, and the nearby Helio City, which approaches 10,000 households, provides sufficient hinterland demand. Meanwhile, Gian84 also purchased an officetel building in Yeouido, Yeongdeungpo-gu, Seoul, last December under a corporate name for 400 million KRW in full cash, intended as a studio.