Sale of Co-owned Building in Sinsa-dong
Approximately 12.9 Billion KRW Capital Gain After 6 Years of Purchase
Drama writer Kim Eun-sook and CEO Yoon Ha-rim of production company Hwa&Dam Pictures recently sold a building they jointly owned, earning approximately 12.9 billion KRW in capital gains. The two have been known to collaborate on drama projects for several years.
According to a report by Hankyung.com on the 12th, writer Kim and CEO Yoon sold a building located in Sinsa-dong, Gangnam-gu, Seoul, which they owned under joint names, last month for 22.5 billion KRW (211.97 million KRW per 3.3㎡). The two had purchased the building in February 2018 for 9.6 billion KRW, reportedly realizing a capital gain of 12.9 billion KRW over six years. Building Road team leader Ahn Tae-han stated, "Kim and Yoon each held a 50% stake in the building, and the pre-tax profit per share is expected to be 6.45 billion KRW, with post-tax gains estimated at over 3.5 billion KRW."
The building is located near Apgujeong Rodeo Station on the Suin-Bundang Line, a prime commercial area adjacent to Dosan Park and Apgujeong Rodeo Street. Currently, a flagship store of a fashion brand operates there. Team leader Ahn explained, "Pop-up stores are opening around Dosan Park, and companies are purchasing buildings for business use at high prices. Generally, it is not easy for building investors to buy and generate rental income from commercial buildings in this area." In fact, the fashion brand Gentle Monster recently attracted attention by purchasing a nearby building for its new headquarters site at 68.6 billion KRW (351 million KRW per 3.3㎡). Additionally, the building across the street housing Stussy was reportedly traded last November for 34 billion KRW (280.99 million KRW per 3.3㎡).
Meanwhile, writer Kim graduated from the Department of Creative Writing at Seoul Institute of the Arts and began her career in 2003 with the drama "Sunshine South." She has hit numerous works including "Lovers in Paris," "Lovers in Prague," "On Air," "City Hall," "Secret Garden," "A Gentleman's Dignity," "The Heirs," "Descendants of the Sun," "Goblin," "Mr. Sunshine," "The King: Eternal Monarch," and "The Glory," earning a reputation as a leading star writer in Korea. Her next project is the Netflix series "Da Iru-eojiljini," starring actors Kim Woo-bin and Suzy, with the release date yet to be determined.
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