Seo Tae-ji tops entertainer real estate list with $25M property

[한겨레] Chaebul.com reports a number of celebrities own real estate in Seoul's affluent Cheongdam neighborhood

By Han Gwang-deok, Business Correspondent

It has been revealed that singer Seo Tae-ji is the wealthiest celebrity in terms of real estate property.

According to data collected by Chaebul.com released on Dec. 13, 25 celebrities are believed to have real-estate properties that are worth more than 5 billion won ($4.3 million). Of the 27 real-estate properties owned by them, 13 are located in Cheongdam neighborhood in southern Seoul.

The real-estate property owned by Seo Tae-ji in Nonhyeon neighborhood was the highest in value with 29.5 billion won ($25.5 million). The building is six stories high above ground and three stories below ground. The building sits on 722.5 square meter of land and has total surface area of 3729.4 square meter. It is valued at 9.4 million won per square meter.

In addition, celebrity couples account for five of the nine celebrities who own real estate properties worth more than 10 billion won ($9.6 million). Married film actors Jang Dong-gun and Ko So-young have three properties worth a total of 28.2 billion won. The total value of properties owned by Ko So-young in the southern Seoul area is 15.6 billion won, while the building owned by actor Jang Dong-gun in central Seoul is worth 12.6 billion won.

Property with shared ownership between actor Cha In-pyo and actress Shin Ae-ra is valued at 22.3 billion won, and also located in southern Seoul. Yoo In-chon, former Minister of Culture, Sports, and Tourism is also a real-estate giant with properties valued around 10 billion won ($9.6 million). It has been estimated that the building co-owned with his wife Kang Hea-kyong in Cheongdam neighborhood is worth 11 billion won ($9.5 million).

The two properties, one co-owned by married couple Kim Seung-woo and Kim Nam-ju, and the other owned by Kim Nam-ju herself, are valued at 10.9 billion won. The property owned by Lee Jae-ryong and Yoo Ho-jung is valued at 10.3 billion won. Married couple Sohn Ji-chang and and Oh Yeon-su also co-own a property with an estimated value of 9 billion won in Cheongdam neighborhood.

There are also celebrities who are wealthy in terms of both stocks and real estate. Producer Park Jin-young of JYP Entertainment has stock in the firm that is worth approximately 10 billion won and also has real-estate property in Cheongdam neighborhood that is worth 9.3 billion won ($8 million). Producer Yang Hyun-suk of YG Entertainment, who became rich in stocks by listing YG Entertainment last month in the stock markets, has approximately 140 billion won ($121 million) in stock options and also owns a building worth 6.8 billion won ($5.9 million) in Seoul.

Real estate investments by celebrities in the southern Seoul area are concentrated around the Cheongdam area, an affluent area home to a strip of major luxury brand shops. Actor Jang Geun-suk, actress Lee Mi-yeon, and Kim Hee-ae and others have also purchased properties in the Cheongdam area since 2005.

Lee Seo-hyun, vice-president of Jaeil Clothing, Shin Young-ja, president of Lotte Shopping, and Jung Yu-kyong, vice-president of Shinsegae and other, family-run conglomerates, family members are conducting fashion and dining businesses in Chongdam area.

(Translated by Kim Joon-ki, Intern)

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