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, is estimated to reach 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 about 2.3 billion won. The building is said to be named 'Riyu,' after the couple's surnames. 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 approximately 80 meters away was 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 at around 39.8 billion won.

The acquisition cost of the site, including incidental transaction expenses such as acquisition tax, legal fees, and brokerage commission, is estimated to be about 6.55 billion won. Adding the construction cost of 2.3 billion won, the total investment is estimated at approximately 8.85 billion won. With the current asset value assessed at 39.8 billion won, the couple has realized a capital gain of about 31 billion won, excluding the purchase and construction costs invested in the building.

It is estimated that the couple took out a loan of about 4 billion won at the time of purchasing the site. This calculation is based on the maximum secured amount of 4.8 billion won recorded in the real estate registry. Typically, the maximum secured amount is considered to be about 120% of the actual loan amount.

Meanwhile, the couple's building is located behind Yeongdong-daero, and is highly regarded for its accessibility. It is situated within the area served by Cheongdam Station on Subway Line 7, about a five-minute walk from Exit 12 of Cheongdam Station. Opposite the building is the Cheongdam-dong property owned by actor Cha Inpyo and his wife Shin Aera.