Yoo Jae-seok, Who Once Claimed to Know Little About Real Estate, Builds 7-Story Building Opposite His Agency with 7.7 Billion Won Loan

Scheduled for Completion in February Next Year
Estimated Loan Amount: Approximately 7.7 Billion Won

Broadcaster Yoo Jae-seok, often referred to as the "national MC," is reportedly constructing a new building with three basement levels and four above-ground floors in Nonhyeon-dong, Gangnam-gu, Seoul.

According to the real estate industry on September 13, Yoo purchased two plots of land in Nonhyeon-dong in June 2023 for 11.6 billion won and 8.2 billion won, respectively. It has been confirmed that he paid the full 11.6 billion won in cash for one of the plots, without setting up any mortgage at the time.

On one of these plots, there was a four-story multi-family residence built in 2002. Yoo evicted the tenants and demolished the building, then combined the two plots to begin construction of the new building. The site area is 573.7 square meters (173 pyeong), and the total floor area is 1,653.55 square meters (500 pyeong).

Broadcaster Yoo Jae-seok. Courtesy of Antenna

The building, which began construction in May last year and is scheduled for completion in February next year, is registered as a neighborhood living facility. It is expected to be used as an office building or for rental business purposes. The site is located directly across from Yoo's agency, Antenna, and the area is known for its high demand for office space due to the concentration of entertainment companies, universities, and startups nearby.

Two months after construction began, in July last year, Yoo took out a loan using the two plots as collateral. The maximum amount secured on the registry is 9.24 billion won, with the actual loan amount estimated at around 7.7 billion won. This is believed to have been for covering construction, design, and supervision costs. In November 2023, he also registered as a real estate business operator under the name "JS607."

In recent years, Yoo has gained a reputation as a real estate asset holder, with reports revealing that he owns the Brighton N40 penthouse in Nonhyeon-dong (worth over 8.6 billion won) and the Hyundai Apartment in Apgujeong (worth over 7 billion won).

Meanwhile, in the past, when asked about real estate investment on the tvN variety show "You Quiz on the Block," he commented, "I know a bit about stocks because I do some investing, but I don't invest in real estate because I don't know much about it."