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4w ago

Court Cuts Opening Bid for Seo Hyun Jin’s Gangnam Villa to 2.30 Billion KRW

The revised price remains below her original 2.65 billion KRW deposit as her legal effort to recoup the funds moves to a second auction on June 17.

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Seo Hyun-Jin Becomes Victim Of Rental Scam, To Incur Losses Worth Billions

Overview

  • Seo Hyun Jin secured a jeonse lease for a Gangnam villa in April 2020 and raised her lump-sum deposit to 2.65 billion KRW when renewing in 2022.
  • After her lease ended in April 2024 and the landlord defaulted on repayment, she registered her lease rights in September 2024 and filed for a court auction in April 2025.
  • The first auction round drew no bids, prompting the court to slash the opening price for the June 17 sale to 2.30 billion KRW.
  • The property has been deemed a 'kkangtong house,' indicating its market value has fallen below the total debts and deposits it carries.
  • Real estate analysts warn that a sustained market downturn makes a full recovery of her funds unlikely, potentially locking in a significant shortfall.