Ownership Transfer Registration Received on the 18th
1.7 Billion KRW Mortgage Established
According to Herald Economy's report on the 30th, the buyer who purchased the house where singer Choi Min-hwan, recently embroiled in a privacy controversy, lived with his ex-wife Yulhee for 3.8 billion KRW is singer Younha.
Younha bought a detached house in Yulhyeon-dong, Gangnam-gu, Seoul for 3.8 billion KRW last August and received the ownership transfer registration on the 18th of this month. This house was purchased solely by Choi Min-hwan in 2015 for 1.25 billion KRW. It has a total floor area of 408.74㎡ (approximately 123.64 pyeong) and a land area of 312㎡ (approximately 94.38 pyeong). The transaction price was about 40 million KRW per 3.3㎡ (pyeong).
The media estimated, "A mortgage with a maximum claim amount of 1.725 billion KRW was also set. Considering that the maximum claim amount is usually set at about 120% of the loan amount, it is presumed that about 1.4 billion KRW was borrowed to purchase the property."
Previously, in 2015, Choi Min-hwan bought an old house located in a residential area in Yulhyeon-dong with one basement floor and one to two floors above ground, demolished it, and rebuilt it as a multi-family house with one basement floor and one to two floors above ground. He then lived there with his family. This house was also featured on KBS 2TV variety shows such as 'The Return of Superman' and 'Men Who Do Housework.'
When Choi Min-hwan purchased the house, the maximum claim amount was set at 1.05 billion KRW. It is estimated that he borrowed about 800 to 900 million KRW from the bank to buy it. Simply calculated, he made a capital gain of 2.5 billion KRW in nine years.
Choi Min-hwan, Yulhee / Photo by Asia Economy DB
Meanwhile, the Gangnam Police Station in Seoul decided not to prosecute Choi Min-hwan due to insufficient evidence to prove his violation of the Act on the Punishment of Sexual Traffic and Forced Indecency. Afterwards, Choi Min-hwan apologized, saying, "In a situation where one-sided claims, false facts, and numerous distorted speculations of the other party have spread as if they were true, I thought that hastily stating my position without any results would rather worsen the situation. I sincerely bow my head and apologize for disappointing you with my actions. I will do my best to show a more responsible and mature side in the future."
He married Yulhee, a former member of the idol group Laboum, in 2018 and had one son and two daughters, but they divorced in December last year.
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