Hong Rok-gi Purchased for 800 Million Won, Sold at Double the Price
Due to Mortgage and Provisional Seizure... Although Auctioned, Hong Rok-gi Gets '0 Won'
The apartment owned by broadcaster Hong Rok-gi, who was declared personally bankrupt, in Geumho-dong, Seoul, was sold at auction for over 1.63 billion won.
According to Gigi Auction, a specialized company for auction and public sale data, on the 17th, the Geumho Xi 1st Apartment in Seongdong-gu, Seoul, owned by Hong, was sold for 1,634,090,000 won in the first auction held that morning. It is known that there was only one bidder.
This apartment has an exclusive area of 117.18㎡ (42 pyeong) and was appraised at 1.63 billion won. Built in 2012, it is located within a five-minute walk from Sin Geumho Station on Subway Line 5, making it a transit-oriented area, and is considered a preferred complex due to the nearby elementary school.
According to the official registry, Hong purchased this apartment in December 2015 for 800 million won. Although the apartment was sold at twice the price Hong paid, due to multiple mortgages and provisional seizures, Hong will not gain any money from this auction sale.
Hong co-founded and operated the wedding consulting company Now Hall (formerly Now Wed) in 2011 but faced financial difficulties due to the COVID-19 pandemic. This led to controversy after it was revealed that employee wages had not been properly paid for about two years.
Although the rehabilitation process for the corporation has ended, Hong filed for personal bankruptcy in February last year and was declared bankrupt by the court in January this year. According to the court investigation, as of July last year, Hong's assets were valued at 2.2 billion won, while liabilities amounted to 3 billion won.
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