Ryu Jun Yeol has bagged a huge profit margin of about 4 billion won ($3.3 million) after selling his real estate property which he previously bought with a loan.
According to a media outlet on the 24th, the actor acquired a property in Yeoksam-dong in 2020 for 5.8 billion won ($4.8 million). He borrowed 5.2 billion won ($4.3 million) against his property, which was over 90 percent of the total payment. He purchased it under the name of his company, DEEP BREATHING, which he established in March of 2018. Currently, the company is run by his mother.
Ryu Jun Yeol’s firm tore down an old building in the property and constructed a seven-floor building with two basement floors. The company took out an additional loan to make the construction happen. Since the construction costs about 8 million won ($6,644) per 3.3 square meters, he is presumed to have spent over 2.4 billion won ($1.9 million) to put up the building. The actor borrowed 1.7 billion won ($1.4 million), which is about 70 percent of the total expense, to pay off the construction fee.
When the work was done in November 2021, Ryu Joon Yeol put the newly built property on sale. It was sold for 15 billion won ($12.5 million), and the actor saw a huge profit margin of 4 billion won ($3.3 million).
Regarding Ryu Jun Yeol’s company, C-JeS Entertainment explained that it was established to manage the actor’s personal earnings. They noted that it manages his personal activities like his photo exhibitions.
The agency also noted that the actor was initially planning on launching his own fashion business in that property. �They said, “Ryu Jun Yeol had planned to start a clothing brand with his friends. However, due to COVID-19, he decided not to proceed with the idea and sold the property.”
Source (1)
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