“He said he was living on a semi-jeonse lease, but now he’s a 10 billion-won homeowner” ... Kim Dong-hyun buys an apartment in Apgujeong’s Shinhyundai complex

[Financial News] Kim Dong-hyun, a television personality and former mixed martial arts fighter, bought an apartment in Apgujeong-dong, Gangnam-gu, Seoul, for 10 billion won. About 5 billion won of the purchase price was reportedly financed by borrowing from the previous owner.
Herald Business reported on the 30th that Kim bought a 182-square-meter apartment (about 55 pyeong) in Shinhyundai 12th, Apgujeong-dong, Gangnam-gu, Seoul, for 10 billion won on September 23. He reportedly paid the remaining balance on the 21st of this month and completed the registration of the ownership transfer.
The purchase reportedly involved “seller financing,” in which the seller lends funds to the buyer. Kim reportedly borrowed about 5 billion won—half of the 10 billion-won purchase price—from the previous owners.
Four mortgages have been registered against the apartment, with the four previous co-owners listed as creditors. The maximum secured claim amounts are 3.12 billion won, 1.08 billion won, 1.08 billion won and 720 million won, totaling 6 billion won.
Since the maximum secured claim for a mortgage is generally set at about 120% of the actual loan amount, Kim is estimated to have borrowed about 5 billion won from the sellers. The remaining roughly 5 billion won may have been covered with his own funds, such as cash.
Kim previously spoke of his regret at being unable to buy a home while living in a large apartment in Banpo-dong, Seoul, on a semi-jeonse lease.
In June, Kim appeared on the YouTube channel “Unlikable Attention-Seeking Sister” and showed the apartment in Banpo where he was living at the time, which was in the 60-pyeong range. He explained that the home was not his own but was rented on a semi-jeonse basis, saying, “I moved from one semi-jeonse place to another. I’m really working hard, but you know how there’s a train of rising home prices, right?”
Lee Ji-hye brought up how Kim had sold a luxury apartment in the past and then invested in Bitcoin. Kim replied, “I got off that train for a little while. I looked elsewhere for a moment, and (home prices) had shot up,” expressing regret over the rise in apartment prices.
Just a few months after saying he was living on a semi-jeonse lease in a Banpo apartment, Kim bought Shinhyundai 12th in Apgujeong. The complex is considered one of the major apartment complexes slated for redevelopment in the Apgujeong area.
Shinhyundai 12th is part of the Apgujeong District 2 redevelopment project and is located along the Han River. Apgujeong District 2 selected Hyundai Engineering and Construction as its builder, and the redevelopment is expected to create a residential complex of 2,381 units, with buildings of up to 66 stories.
Kim welcomed his fourth child, a son, in September, becoming the father of two boys and two girls. Although Kim, who has four children, has bought Shinhyundai 12th in Apgujeong, it is not known whether he will actually move in.


[email protected] Han Seung-gon Reporter