First Lee Byung-hun bought a two million dollar house in Los Angeles. Now, Kim Tae-hee has also bought a two million dollar house in Irvine. Speculation has been mounting as to why, or whether these two high profile real estate transactions are mere coincidence.
That two major South Korean entertainment stars bought the houses in the same area at the same time was probably a coincidence. However, wealthy Asians have long bought houses in this area for a variety of reasons.
Practically speaking, it is convenient to have a permanent residence near Los Angeles for people who frequently take trips there. This was the official explanation for Lee Byung-hun's investment. Kim Tae-hee's agency has claimed that she is not currently looking into expanding her career into Hollywood as Lee Byung-hun has.
Financial motives are another likely factor. American houses are seen as offering a strong return by foreign investors. This practice has made much of the American housing market unaffordable for normal Americans, creating spikes in homeless populations.
Taking advantage of American birthright citizenship is another reason for wealthy foreigners to maintain official residences in the United States. Such an advantage is of particular value to South Korean families trying to spare their sons the trauma of mandatory military service. Kim Tae-hee's second child is due in September. Its gender has not yet been revealed.
Written by William Schwartz
Staff writer. Has been writing articles for HanCinema since 2012, having lived in South Korea since 2011. Started out in Gyeongju, then to Daegu, then to Ansan, then to Yeongju, then to Seoul, lived on the road for HanCinema's travel diaries series in the summer of 2016, and is currently settled in Anyang. Has good tips for utilizing South Korea's public bus system. William Schwartz can be contacted via firstname.lastname@example.org.
"[HanCinema's News] First Lee Byung-hun and Now Kim Tae-hee Have Bought Houses in the United States"
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