Lee Byung Hun is found to have bought a building worth 24 billion won through Project B, the company where his mother serves as director.
According to a report by Hankyung Dotcom on July 24th, Project B purchased a building near Oksu Station in Oksu-dong, Seongdong-gu, Seoul in August 2022 with 23.99 billion won. The purchase price per 3.3㎡ was 183.5 million, and the total debt amount was 19 billion won.
The building has a land area of 732㎡ and a total floor area of 2,494.76㎡, with 6 floors from basement 2 to ground 6. It was newly built in September 2021, and the entire building is currently leased by an international school with a deposit of 1 billion won and a monthly rent of 85 million won.
Building Road team leader Kim Jae Young said, “The building is currently under the management of a trustee by a consignment company”, adding “The reasons for the entrusting normally include management, development, and collateral trust for loans, but in the case of Lee Byung Hun, it is expected to be for loan and tax reduction purposes.”
They added, “The reason why the international school was able to pay a high rent is likely due to the fact that the road adjacent to this building leads to the high-end residential areas of Hannam-dong, such as Hannam The Hill and UN Village.”
Project B is a specialized real estate leasing and consulting corporation established in September 2017 and Lee Byung Hun holds a 100% stake. Through Project B, Lee Byung Hun has been consistently investing in real estate. In 2018, he purchased a 10-story building in Yangpyeong-dong and reportedly made a significant profit of around 10 billion won when he sold it in 2021.
Aside from real estate investments, Lee Byung Jun continues his main job as an actor. His movie “Concrete Utopia” is scheduled to premiere on August 9th.
“Concrete Utopia” tells the story of residents who gather at the only remaining building in Seoul after being devastated by a huge earthquake. Lee Byung Hun takes on the role of resident representative Young Tak, heralding a new character transformation.
Source: Nate
