Actress and Entrepreneur Byun Jung-min Nets Over $2 Million Profit from Seoul Property Sale

Byun Jung-min, a former model turned actress and entrepreneur, has made a significant profit exceeding 2 billion KRW (approximately $2 million USD) from the sale of a building in Hannam-dong, Seoul.

According to real estate industry sources on the 25th, Byun sold a mid-sized building near the Itaewon tourist district in Yongsan-gu, Seoul, for 4.95 billion KRW (approximately $3.7 million USD) in April. The building spans a total land area of 86.9 square meters and a total floor area of 130.7 square meters, comprising a basement and three above-ground floors.

Byun originally purchased the property in July 2021 for 2.6 billion KRW (approximately $1.9 million USD). In less than four years, she realized a profit of about 2.35 billion KRW (approximately $1.75 million USD).

The building houses a well-known shoe brand, generating income with a deposit of 144 million KRW (approximately $108,000 USD) and a monthly rent of 12 million KRW (approximately $9,000 USD). The registry indicates a mortgage of 2.88 billion KRW (approximately $2.15 million USD) held by a bank. Considering that the maximum claim amount is typically 110-120% of the loan, it is estimated that Byun borrowed around 2.4 billion KRW (approximately $1.8 million USD), suggesting her actual capital investment was around 200 million KRW (approximately $150,000 USD).

However, since the property was held under her personal name, it is expected that more than half of the profit from the sale will be paid in taxes.

Byun Jung-min is the younger sister of renowned model Byun Jung-soo. She debuted as a model in 1994 and has appeared in dramas such as 'Heungbu's Family', 'First Wives' Club', and 'Beautiful Temptation'. In 2005, she married international lawyer Choi Jin-young, and they have two daughters.