MC Mong Sells Seoul Building to TV Personality Noh Hong-chul

Renowned singer MC Mong has sold a building in Sinsa-dong, Gangnam-gu, Seoul to TV personality Noh Hong-chul.

According to a media report on the 22nd, MC Mong's corporation, The Mu Co., disposed of the building in November last year for 15.2 billion KRW (approximately $11.4 million). The building, which spans from a basement level to five above-ground floors, covers a land area of 253.95 square meters and a total floor area of 593.17 square meters. Noh Hong-chul reportedly completed the purchase agreement earlier this month and has finalized the ownership transfer.

Previously, the building was owned by another TV personality, Kang Ho-dong, who purchased it in 2018 for 14.1 billion KRW (approximately $10.6 million). Kang sold it to MC Mong six years later for 16.6 billion KRW (approximately $12.5 million), making a profit of about 2.5 billion KRW (approximately $1.9 million).

MC Mong, however, incurred a loss, having bought the property for 16.6 billion KRW and selling it for 15.2 billion KRW, resulting in a loss of approximately 1.4 billion KRW (around $1.1 million) over a period of about 18 months. When including acquisition taxes, registration fees, and financial costs, the actual loss is estimated to exceed 2 billion KRW (approximately $1.5 million).

Reported by Se-yoon Jung, Ten Asia yoon@tenasia.co.kr