On September 20th the Korean Asset Manager Corporation (KAMCO) announced that it was putting an upscale apartment in the Samsung district of Seoul up for auction from September 23rd to 25th. What's notable about the property is that the address, Samsung Terrace unit 1302, is the residence of actor Park Yoo-chun.
Park Yoo-chun bought the property in October of 2013. The market value of such a property at the time would have been around three million dollars. Because Park Yoo-chun has not done any work for three years the property has fallen into arrears. A recent legal settlement against Park Yoo-chun in connection to his alleged 2015 sexual assault has further damaged his difficult monetary situation, creating an urgent need for money.
The sale of the property has been planned for since June, which is when the tax issues originally came up via court order. Any new owner of the property will have to deal with the tax problem before being able to take possession of it.
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 email@example.com.
"[HanCinema's News] Park Yoo-chun's Upscale Apartment Put up for Public Auction"
by HanCinema is licensed under a Creative Commons Attribution-Share Alike 3.0 Unported License.
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