"Agency Fundraising or Anticipation of Damages for Breach of Broadcast Contracts"
A large-scale mortgage has been registered by broadcaster Park Narae's agency corporation on her residence in Itaewon-dong, Yongsan-gu, Seoul, following a suspension of her broadcasting activities due to various allegations.
According to The Asia Business Daily on December 22, the real estate registration for 25 Hoenamu-ro 35-gil, Yongsan-gu, Seoul, owned by Park Narae, currently lists two mortgages.
The first mortgage was registered on July 13, 2021. The creditor is Hana Bank, and the maximum claim amount is 1.1 billion won. This appears to be a standard home mortgage loan.
The second mortgage was newly registered on December 3. The creditor is Npark Co., Ltd., Park Narae's agency, with a maximum claim amount of 4.97 billion won. The registration cites a "contractual agreement" as the reason, indicating that it is not due to compulsory execution or seizure.
Industry sources speculate that this arrangement serves either as a means for the agency corporation to raise funds or as a safeguard against potential future expenses. Small entertainment agencies often find it difficult to secure funding based solely on corporate credit, so they sometimes use the assets of affiliated entertainers as collateral.
Some analysts suggest that this move may be in anticipation of penalty and damages claims related to Park Narae's breach of broadcast appearance contracts. Although Npark has not initiated dissolution or liquidation procedures, it has been reported that the office sign at the registered address has been removed and there are no resident staff members.
The combined maximum claim amount for both mortgages totals 6.07 billion won. When Park Narae purchased the residence in 2020, the price was reportedly 6.7 billion won. This means that most of the property's registered value is now set as collateral.
Park Narae has recently suspended her broadcasting activities due to various controversies regarding her personal life. She has stepped down from all programs in which she was a regular cast member. Npark, her agency, has not released a statement regarding the recent mortgage registration.
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