Director Kim Yonghwa Achieves 17.5 Billion KRW Profit
from Real Estate Sale in Just Four Years
Purchased Nine One Hannam Unit Entirely in Cash
Director Kim Yonghwa, who earned the title of “double ten-million” box office director through the “Along with the Gods” film series, is reported to have made a profit of approximately 17.5 billion KRW from real estate investment over the past four years.
On May 16, Yonhap News TV, citing the real estate industry, reported that in February, Director Kim Yonghwa sold his luxury apartment “Nine One Hannam” in Hannam-dong, Yongsan-gu, Seoul for 25 billion KRW. This transaction is said to be the highest apartment sale price on record. The previous record was held by a 243-square-meter unit at Hannam The Hill, also in Hannam-dong, which sold for 17.5 billion KRW in March.
The apartment sold by Director Kim has a gross floor area of 334.17 square meters (about 101 pyeong) and a net area of 273.94 square meters (about 82 pyeong), making it the largest unit within Nine One Hannam. It is estimated that Director Kim will realize a profit of 17.5 billion KRW from this sale.
He had purchased the unit in March 2021 for 7.5 billion KRW, paying the full amount in cash without taking out any loans.
Nine One Hannam, which opened in 2019, consists of 341 units and is widely recognized as a premier luxury residential complex, home to many well-known celebrities and business figures.
To avoid the price cap regulation introduced in 2018, the complex was initially offered as rental units with an option to purchase. At that time, the rental deposit alone ranged from 3.3 billion to 4.8 billion KRW (with monthly rent between 700,000 and 2.5 million KRW). Two years later, the units were converted to sales at an average price of 61 million KRW per 3.3 square meters.
Meanwhile, Director Kim rose to stardom with box office hits such as his debut film “Oh! Brothers” (2003), “200 Pounds Beauty” (2006), and “Take Off” (2009).
He solidified his position as a leading commercial director in Chungmuro with consecutive hits “Along with the Gods: The Two Worlds” (2017) and “Along with the Gods: The Last 49 Days” (2018). “Along with the Gods: The Two Worlds,” released in December 2017, drew 14,414,658 viewers, while “Along with the Gods: The Last 49 Days,” released in August 2018, attracted 12,278,010 viewers, making him the first director in Korean cinema history to achieve the “double ten-million” milestone.
He is also the founder and largest shareholder of Dexter Studio, a company specializing in film visual effects. Director Kim holds a 19.24% stake in Dexter, and as of the closing price on this day, the value of his shares amounts to 34.5 billion KRW.
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