②Buying a Home with Cash Without Bank Loans
Famous stars who receive appearance fees worth "hundreds of millions" first secure their homes when they earn money. They mainly settle in affluent neighborhoods in Seoul that offer good security and easy accessibility. Real estate speculation controversies are someone else's problem. Stars often purchase residential properties outright with cash. Top performers in various fields such as broadcaster Yoo Jae-suk, singer Lee Hyori, Lim Young-woong, actor Yoo Hae-jin, and BLACKPINK member Lisa have bought homes worth tens of billions of won without bank loans, paying entirely with their own money.
In 2022, Lim Young-woong purchased a penthouse at the mixed-use complex Mecenatpolis in Seogyo-dong, Mapo-gu, Seoul, for 5.1 billion won. Mecenatpolis is a high-end mixed-use apartment complex approved for use in July 2012. It consists of 617 units ranging from 122 to 244 square meters, spanning from 7 basement floors to 39 floors above ground. Nearby, singer Jung Dong-won, a neighbor, also bought a unit in this complex last year and resides there.
Yoo Jae-suk bought land in Nonhyeon-dong, Gangnam-gu, Seoul, last year for 11.6 billion won in cash. The land area is 90.3 pyeong (approximately 298 square meters), designated as a Type 1 General Residential Area. Previously, there was a five-story neighborhood facility, but it was recently demolished and the land is currently vacant for new construction. Nearby is the headquarters of his agency, Antenna Entertainment. Recently, he also moved his residence. He purchased the Brighton N40 apartment in Nonhyeon-dong, Gangnam-gu, for 8.6657 billion won. He bought this apartment entirely with cash, without any loans. The penthouse has a net area of 199 square meters and consists of four bedrooms, three bathrooms, a living room, and a kitchen.
Lee Hyori and her husband Lee Sang-soon are moving their home from Jeju, where they lived for 11 years, to Pyeongchang-dong, Jongno-gu, Seoul. This area is considered a traditional affluent neighborhood. In August last year, they purchased a detached house and adjacent land in Pyeongchang-dong for 6.05 billion won in cash. Lee Hyori holds three-quarters of the shares, and Lee Sang-soon holds the remaining quarter. The house has a total floor area of about 330 square meters (approximately 100 pyeong) and is structured with one basement floor and two floors above ground.
Yoo Hae-jin bought a detached house in Seongbuk-gu, Seoul, last year for 4.5 billion won in cash. According to the building register, the house was built in September 1986, with a land area of 496 square meters (150 pyeong) and a total floor area of 322.38 square meters (about 98 pyeong). He still owns a villa in Gugidong where he has lived for over 10 years. He purchased this villa in 2008 for 860 million won, and its current market value is around 2 billion won.
BLACKPINK member Jennie purchased La Terrasse Hannam located in UN Village, Yongsan-gu, Seoul, last year for 5 billion won. The net area is 244.97 square meters (74 pyeong), with a supply area of 286 square meters (87 pyeong), and it is known to have five bedrooms and three bathrooms. Lisa bought a detached house in Seongbuk-dong, Seongbuk-gu, Seoul, for 7.5 billion won. The house has one basement floor and two floors above ground, with a land area of 655 square meters (about 198 pyeong) and a total floor area of 689 square meters (about 208 pyeong). None of these properties have mortgage registrations on their official registries, indicating that they were purchased entirely with cash.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
