Yoo Hojung and Lee Jaeryong Couple's Parking Lot Turns into 39.8 Billion Won Building in 20 Years

Purchased in 2006, Newly Built in 2010... Asset Value Soars

The current asset value of the building owned by actress Yoo Hojung and her husband Lee Jaeryong in Cheongdam-dong, Gangnam-gu, Seoul, has been estimated at 39.8 billion won.

Actress Yoo Hojung. SM Entertainment

According to Building Road Real Estate Brokerage Corporation on December 28, Yoo Hojung and Lee Jaeryong jointly purchased a parking lot site near Cheongdam Park in Cheongdam-dong, Gangnam-gu, Seoul, in 2006 for 6.18391 billion won. In 2010, they constructed a building with one basement floor and five above-ground floors. The construction cost at the time was reported to be approximately 2.3 billion won. The building is said to be named 'Riyu,' combining the couple's last names. Initially, the couple lived on the fifth floor, while the fourth floor was used as the office for 'Star Partners,' an entertainment agency founded by Lee Jaeryong. Currently, a high-end restaurant leases all floors of the building.

According to a representative from Building Road Real Estate, a nearby building located about 80 meters from theirs recently sold for 1.8 billion won per 3.3 square meters. Applying this price to the land area of Yoo Hojung and Lee Jaeryong's building, which is 729.3 square meters, the current market value is estimated to be about 39.8 billion won.

The acquisition cost of the land, including transaction-related expenses such as acquisition tax, legal fees, and brokerage commissions, is estimated to be around 6.55 billion won. Adding the construction cost of 2.3 billion won, the total investment is estimated at approximately 8.85 billion won. Given that the current asset value is about 39.8 billion won, the couple has realized a capital gain of about 31 billion won, excluding the purchase and construction costs.

It is estimated that the couple took out a loan of about 4 billion won when purchasing the land. This calculation is based on the maximum secured debt amount of 4.8 billion won recorded in the real estate register. Typically, the maximum secured debt is about 120% of the actual loan amount.

Meanwhile, the couple’s building is considered to have excellent accessibility, being located just behind Yeongdong-daero. It is within the area served by Cheongdam Station on Subway Line 7 and is about a five-minute walk from Exit 12 of Cheongdam Station. Directly across the street is another Cheongdam-dong building owned by actor Cha Inpyo and his wife Shin Aera.