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SNSD’s Taeyeon reportedly suffered a loss of 1.1 billion KRW from real estate fraud

According to Ten Asia on October 28, Taeyeon is the victim of a planned real estate scam worth 250 billion KRW.

In 2019, Taeyeon bought land in Hanam, Gyeonggi-do from a large real estate company for 1.1 billion KRW.  However, the land that Taeyeon bought was deceptively advertised as a promising land while in fact, it is virtually not possible to be developed. The reason is that the land is bound as a ‘mountainous conservation area’ under the Forest Conservation Act.

Taeyeon

The company bought the land for 400 million KRW and sold it to Taeyeon for 1.1 billion KRW within three months. The investigation agency said that this real estate company had split the land into smaller chunks and sold it to 3,000 people. The company avoided suspicion by running TV commercials with a 20-year tradition, and attracted wealthy investors by using a popular KBS comedian as a salesperson. Regarding this matter, SM Entertainment, Taeyeon’s management agency responded, “It’s difficult for the company to confirm because it’s related to the assets of the artists.” The case is still under investigation.

Source
Nate

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