The Trunk’s Seo Hyun Jin moves to 1.5 billion KRW apartment amid housing scam, here’s how she plans to recover loss

Actress Seo Hyun Jin has chanced on herself entangled in a staunch estate dispute after falling victim to jeonse fraud. It’s a form of housing rip-off that continues to trap unsuspecting tenants across South Korea.

In accordance with court paperwork disclosed on June 3, Seo Hyun Jin is at the 2d hunting for to get well an enormous 2.6 billion KRW (approximately 1.9 million USD) deposit tied to a jeonse contract for a high-cease villa located in Cheongdam-dong. For the length of this ongoing case, she vacated her frail situation and is now mentioned to be staying at a selected property she owns.

A new residence

Amid the continuing legal war, Seo Hyun Jin has managed to procure a new space to live. She reportedly relocated to an condo in Oksu-dong, a neighborhood in central Seoul. This property, bought in her title in 2018, was bought for 1.5 billion KRW (approximately 1.07 million USD), paid entirely in money.

A deal long previous spoiled

All of it started when Seo Hyun Jin entered into the jeonse agreement in April 2020. She supplied a staggering 2.5 billion KRW (approximately 1.8 million USD) as a lump-sum deposit in alternate for rent-free living for the length of the lease term.

It’s a unusual association beneath South Korea’s uncommon housing plot. She renewed the contract in 2022, growing the deposit by an additional 125 million KRW (about 89,000 USD). This introduced her entire investment in the property to 2.625 billion KRW.

Nonetheless, when the lease expired in April 2024, the villa’s owner did no longer draw relieve the deposit. In spite of repeated attempts to procure to the backside of the deliver, Seo was unable to get well the funds. It led to her to rob legal steps. In September 2024, she formally registered her lease rights during the court and moved out of the property.

Auction provides slim hope of recovery

With negotiations stalled, Seo pursued legal recourse by initiating a forced public sale of the Cheongdam-dong villa. While the property was formally appraised at 2.874 billion KRW (approximately 2.05 million USD), the first public sale spherical did no longer blueprint a purchaser. As a consequence, the court reduced the minimal negate to 2.299 billion KRW (roughly 1.64 million USD) in preparation for a 2d public sale scheduled for June 17.

For Seo, the financial stakes remain high. In roar to recoup her beefy deposit, the winning negate must exceed 2.6 billion KRW. It’s a target that would additionally be interesting to attain in currently’s cooling staunch estate market. If the final sale label falls immediate, Seo would possibly possibly possibly additionally endure a valuable financial loss.