'Real Estate Tycoon' Lee Seung-gi Purchases Land in Jangchung-dong for 9.4 Billion Won

Establishment of a Mortgage Right of 7.8 Billion KRW

Singer and actor Lee Seung-gi purchased land in Jangchung-dong last month for 9.4 billion KRW.

Photo by Hook Entertainment

According to the real estate industry on the 17th, Lee Seung-gi signed a sales contract on February 29 for a 618㎡ (187 pyeong) plot of land near a residential area in Jangchung-dong, one of Seoul's affluent neighborhoods. He completed the ownership transfer by paying the balance on the 23rd of last month. At the time of sale, Shinhan Bank set a maximum secured claim (usually 120% of the loan amount) of 7.8 billion KRW as a mortgage on the property, suggesting that he likely took out a secured loan of about 6.5 billion KRW. The sellers were Moon Mo and Kang Mo, the father and mother of Moon Hyuk-gi, the founder and former CEO of Jeju Beer.

The land was originally used as a site for a two-story detached house with a total floor area of 311㎡. In January 2012, ownership was transferred to a food service company, and the building was demolished. The company initially planned to construct a company building, but withdrew the sales contract after the Cultural Heritage Administration’s excavation survey in the summer of that year discovered the base of the Hanyangdoseong city wall.

Afterwards, the site was left vacant until the end of last year, when the Cultural Heritage Committee re-examined and granted permission to use part of the land excluding the city wall base after 11 years.

In addition to this land, Lee Seung-gi also owns a residential-commercial complex apartment in Samseong-dong, Gangnam-gu, Seoul, which he has been using as a newlywed home since marrying actress Lee Da-in in April last year. He purchased it in 2009, and its current asking price is around 5 billion KRW. He also bought a two-story detached house with a land area of about 1,000㎡ (about 300 pyeong) and a total floor area of 1,200㎡ (about 360 pyeong) in Seongbuk-dong, Seongbuk-gu, Seoul, at the end of 2021 for 5.635 billion KRW.

Lee Seung-gi married actress Lee Da-in, daughter of actress Kyeon Mi-ri, in April last year and welcomed a daughter in February this year. Recently, after the acquittal of A, his father-in-law and husband of actress Kyeon Mi-ri, in a stock manipulation controversy was overturned, he announced that he would take legal action against related malicious comments. On the 16th, his agency stated, "This matter occurred before Lee Seung-gi’s marriage and is an issue for the family to resolve." They added, "In the future, the agency will take stronger legal action against fake news and malicious defamatory comments about Lee Seung-gi and his family."