Kwon Sang Woo Purchases 28 Billion Won Building
Kwon Sang Woo has acquired another building.
According to the real estate industry, on May 16, Kwon Sang Woo bought a 28 billion won (approximately $25 million) building through his company KGB Film, of which he is the president of. He reportedly settled the balance on June 29. The building is located in the Deungchon neighborhood in Seoul, and is a five minute walk from Jeungmi station, a stop on Line 9 of the Seoul subway system.
The site is 1,707.8 square meters (approximately 18,400 square feet) and the total floor area is 12,556.21 square meters (approximately 135,000 square feet) with four underground levels and 10 above ground levels. Using the building as collateral, the actor reportedly took out a 24 billion won (approximately $21.5 million) loan from the bank. With a security deposit of 1.9 billion won (approximately $1.7 million) and a monthly rent of 140 million won (approximately $126,000), it has a high rental yield at 6 percent.
Park Won Seo, a team leader at a building brokerage firm, stated, “The biggest advantage of the building in Deungchon that Kwon Sang Woo recently purchased is that it has a high rate of return of above 6 percent, so it will likely have a high rental yield. There is also a lot of rich history around the building.” He added, “We believe this is a similar case to actor Lee Byung Hun recently purchasing a building near Sunyudo station through his family firm for 26 billion won (approximately $23.3 million).”
Kwon Sang Woo married his wife Son Tae Young in 2008. Since then, he has been active in real estate. In 2013, the actor purchased a building in the Bundang district, which he named ROOKIEN1129, a combination of his son’s name and his mother’s birthday. The actor personally was involved in the purchase of the land, as well as in the design and construction of the 23 billion won (approximately $20.6 million) building.
In 2014, Kwon Sang Woo purchased a shopping center building in the Cheongdam neighborhood for 8 billion won (approximately $7.2 million) and gifted it to his wife. In April 2015, he bought a two-story factory in the Seongsu neighborhood for 8 billion won (approximately $7 million), which is now valued at 12 billion won (approximately $10.8 million). The actor also reportedly bought a vacation penthouse for 1.7 billion won (approximately $1.5 million) on the Gold Coast in Australia for his family.
With his most recent purchase, the actor’s real estate investments can be valued at approximately 71 billion won (approximately $63.7 million).
Kwon Sang Woo recently starred in “The Accidental Detective 2” with Sung Dong Il, which celebrated surpassing 1 million moviegoers last month. He also appeared in KBS drama “Queen of Mystery 2,” which concluded in April.