Kyuhyun, a beloved member of the iconic K-pop group Super Junior, is making headlines with news of his real estate ventures. He’s recently listed his former guesthouse property in Namsan-dong, Jung-gu, Seoul, for a staggering 9.5 billion KRW (approximately 7 million USD).
A report from Hankyung.com revealed that this impressive listing also includes an adjacent lot, bringing the total asking price to 11.8 billion KRW (around 8.7 million USD). With the prime location near Exit 2 of Myeongdong Station, Kyuhyun’s property stands out in a bustling area known for its tourist traffic.
Kyuhyun acquired the buildings back in June 2014. The main structure boasts a substantial total floor area of 1,714㎡, spread across six floors above ground and a basement. That main building was originally purchased for 7.3 billion KRW, while a nearby two-story building measuring 70㎡ was secured for 2.3 billion KRW, making the total investment around 9.6 billion KRW.
Interestingly, the real estate records show a maximum secured debt of 6 billion KRW. This suggests that around 5 billion KRW of that purchase was likely financed through bank loans.
Initially housing various businesses, including a photo studio, Kyuhyun’s property eventually transformed into a guesthouse and café, reportedly managed by his father. During an engaging segment on MBC’s Radio Star, he shared the inspiration behind opening the guesthouse, reflecting on the tourism boom:
“It was during the ‘10 million tourists’ era in Korea. Myeongdong had so many tourists, so we opened a guesthouse. My parents and sister managed it, and it had about 60 rooms.”
At its peak, the guesthouse was an impressive success, reportedly raking in around 17 million KRW (about $12,500) over a single bustling three-day weekend. This success solidified Kyuhyun’s reputation as a savvy investor.
However, changing tides brought on by the COVID-19 pandemic dramatically affected tourism, and with shifting attractions in Seoul, Kyuhyun found it necessary to list the property for sale.
