Ock Joo-hyun’s Hannam THE HILL, bought for 19 billion won, faces court auction and seizure by the district office

[Financial News] The Hannam THE HILL apartment in Hannam-dong, Yongsan District, Seoul, which musical theater actress Ock Joo-hyun, a former member of the group Fin.K.L, bought for 19 billion won, has reportedly been put up for court auction and subsequently seized by the district office with jurisdiction.
According to reports published on the 10th by outlets including Biz Hankook and Newsis, the Tax Administration Division of the Yongsan-gu Office in Seoul seized the Hannam THE HILL apartment owned by Ock Joo-hyun on the 6th. Local governments generally initiate property seizure procedures when taxes, such as local taxes, are overdue. The specific reason for this seizure, however, has not been confirmed.
Ock Joo-hyun bought the apartment for 19 billion won last year and completed registration of the transfer of ownership this April. However, over an issue with repayment of the mortgage loan, the Seoul Western District Court issued a decision to commence a voluntary auction on the 14th of last month.
At the time, Ock Joo-hyun’s representatives said the auction proceedings were “a debt-settlement process following the successful completion of a merger and acquisition (M&A) between a corporation and an investment firm.” They added, “The full loan amount is to be repaid in accordance with the business plan with the investment firm.”


[email protected] Han Seung-gon Reporter