‘Hannam-dong Real Estate Tycoon’ BTS’s Jin Also Buys a Building in Hannam-dong for 9.6 Billion Won

[Financial News] BTS member Jin bought for 9.6 billion won a building in Hannam-dong, Yongsan District, Seoul, that was owned by the family of Koo Mi-hyun, former chairwoman of Ourhome. The family effectively resold the building for a 2.8 billion won gain just 1 year and 4 months after buying it.
According to reports by Biz Korea, Maeil Business Newspaper and other outlets on the 12th, Jin took ownership on the 4th of a building in Hannam-dong that had been jointly owned by former chairwoman Koo and her children, Lee Seok-ju and Lee Gyeong-a. The purchase price was 9.6 billion won, and immediately after the sale, Jin changed the building’s name to “Jini.”
Completed in May 1990, the building has five levels, from one basement floor to four above-ground floors, and is a neighborhood commercial facility with a gross floor area of 303 square meters. Situated on a corner along a main road near upscale residential complexes such as Hannam THE HILL and Nine One Hannam, it was previously recommended as a potential flagship store or gallery when listed for sale. All floors are currently vacant, and interior renovation work is underway, but it is not yet known what Jin plans to use the building for.
The family of former chairwoman Koo bought the building for 6.8 billion won in July last year, taking 50%, 15% and 35% stakes, respectively. They then carried out major renovation work, completing it on the 3rd of this month, one day before transferring ownership.
This is not Jin’s first real estate investment. In 2019, he bought a Hannam THE HILL home with an exclusive area of 233 square meters for 4.49 billion won, then paid 4.27 billion won for a 206-square-meter home in November of the same year. In March last year, he additionally bought a Hannam THE HILL home with an exclusive area of 243 square meters for 17.5 billion won. This past April, he sold the first home he bought for 12.7 billion won, making a market gain of 8.22 billion won in about seven years.
Hannam THE HILL, where Jin has invested heavily, is an ultra-luxury residential complex built in 2011 on the former site of Dankook University, with 32 buildings and 600 households. Thanks to its large land shares and stringent security, many figures from the business and entertainment worlds are reportedly among its residents or owners.
Actress Kim Tae-hee also made a substantial gain from Hannam THE HILL. In November last year, she sold for about 12.8 billion won a home there with an exclusive area of 233 square meters, which she had bought for 4.23 billion won in August 2018, making a gain of around 8.5 billion won.
[email protected] Kim Su-yeon Reporter