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'Reply 1988' star Ryu Jun-yeol earns $3.3m in profit after selling building in Seoul

The 'Lost' actor has earned 4 billion KRW ($3.3 million) in profit after he sold his seven-story building located in Seoul for 15 billion KRW

Actor Ryu Jun-yeol, best known for his roles in ‘Reply 1988’ and ‘Lost’, made headlines in the real estate market after he sold his building and hit jackpot. Ryu Jun-yeol sold his seven-story building in Seoul for 15 billion KRW (Korean Republic Won), higher than the price he bought it for. His real estate tactic is being both criticized and appreciated by people on the internet.

On February 24, it was announced on Dispatch that Ryu Jun-yeol sold his building located in Yeoksam-dong, Gangnam-gu, Seoul. The actor made a huge profit after selling the building for 15 billion KRW as the cost of construction and the land’s initial price is just half of what he gave it up for. It was revealed that he profited around 4 billion KRW ($3.3 million) from the sale of his real estate. As soon as the actor finished the construction of the two-year-old building, he immediately sold it for a massive price. What technique did he even use? Simple, Ryu Jun-yeol’s strategy is called a “leverage” investment. Firstly, he connected to a private organization to raise loans, then constructed the building with that fund and sold it for double the price. Ryu Jun-yeol is surely a master of the "debt tech".

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How it all started…

Back in 2020, Ryu Jun Yeol bought a two-story building in Yeoksam-dong for 5.8 billion KRW. He moved this transaction via a private organization called ‘Deep Breeding.’ After the purchase of this 2953 sq ft site (83 pyeong), he borrowed around 5.3 billion KRW which equates to 90 per cent of the real price to begin its re-construction. Then, Ryu Jun-yeol spent 2.4 billion KRW on the construction and turned the site into a seven-story plush building. In September 2021, the construction of the building finally wrapped up. Right after that, the actor put it up for sale and sold it for 15 billion KRW in January 2022. 

What did Ryu Jun Yeol make out of it?

As we saw, Ryu Jun-yeol is projected to make a profit of 4 billion KRW ($3.3 million) after taxes and other costs. According to real estate insiders, the actor will earn handsomely from a mere 600 million KRW ($500,000) investment. While this news made headlines, certain insiders including Ryu Jun Yeol’s company, came in to talk. C-JeS Entertainment where Ryu Jun Yeol is currently signed also said, “The Gangnam building was constructed for the purpose of starting a clothing brand with fellow acquaintances. However, due to the Covid pandemic, Ryu Jun-yeol decided not to proceed with the startup business and instead sold his building.” At the end of the day, the profit he made feels legit but did netizens take it in the right way?

What are the netizens’ reactions?

Many netizens were shocked to learn about the star's earnings by selling just one building. Twitter users had mixed reactions to the issue. One user on Twitter wrote, “Damn, man has big bag now. I'm imagining how much skill he has now apart from acting. Also bro? Did he like do any scam? Nah? Yes? Bag alert!” Another user wrote, “Man he got paid off pretty big👀."

There were several fans who were happy that the actor made such a huge profit. One fan wrote, “Dang, I'm so proud of how far he has come in life. Ryu Jun Yeol, go ahead. don't care about the hate." Another fan said, “He bought the land, constructed a building, and sold it at a great price, and yes his loan percentage seems too biased but come on? He did sell it to someone who voluntarily bought it. Moreover, all the details about his construction is out so I don't think it is a scam.”