Musical actress Ock Joo Hyun’s luxury apartment in Seoul, purchased for 19 billion won (approximately $14.2 million), is facing a court-ordered foreclosure auction just six months after she officially took ownership.
According to legal and real estate industry sources on October 30th, the Seoul Western District Court ordered the auction of Ock’s 332-square-meter apartment at Hannam The Hill in Yongsan District on the 14th.
The auction was requested by Korea Financial Asset Management Loan, a private lending company, over a claim of approximately 2.17 billion won.
Property records show four registered mortgages with a combined maximum secured amount of 23.79 billion won, exceeding the apartment’s purchase price. An appraisal and auction date have yet to be set.
Ock signed the purchase agreement in May 2025 and completed the ownership transfer in April 2026. The 19 billion won transaction set a record for the most expensive sale at Hannam The Hill, drawing considerable attention at the time.
Following news of the auction, her agency, Gemstone E&M, issued a statement explaining that the proceedings were connected to debt restructuring as part of a business expansion and corporate merger and acquisition (M&A).
The agency said Ock had been preparing to expand into live performances, event production and education, using an existing corporate property in Sinsa-dong as the foundation for her plans. During the process, she secured a substantial investment from an investment firm.
“As part of the business expansion and investment process, Ock purchased the Hannam-dong property in April of this year,” the agency explained. “Following the recent completion of an M&A deal between her company and the investor, we are in the process of settling existing financial obligations, including those related to the property.”
The agency added that the auction proceedings were part of that process and that discussions with the investor over repayment and debt settlement were underway.
“Under the business plan, the investor is expected to repay the full amount of the outstanding loans,” it said, adding that it would take the necessary steps to resolve the matter.
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