[Sportschosun | Reporter Park A-ram] A luxury villa in Cheongdam-dong, Gangnam-gu, Seoul, for which actress Seo Hyun-jin sought an auction after being unable to recover a jeonse deposit worth approximately KRW 2.6 billion, has entered auction proceedings again. As the property returns to the auction market following the landlord’s bankruptcy, attention is focused on whether Seo Hyun-jin will be able to recover her deposit.
According to a report by Ttangjipgo on the 2nd, the fourth-floor unit of the luxury villa Hestia in Cheongdam-dong, Gangnam-gu, Seoul, will be put up for re-auction on the 6th of this month, with a minimum bid of KRW 1,471,290,000. The property previously went through auction proceedings that were halted before the sale process resumed.
The property was first put up for auction in September 2024, with an appraised value of approximately KRW 2,873,630,000. It failed to attract bidders several times, causing the minimum bid to fall to the KRW 1.4 billion range, at which point the proceedings were suspended. This time, a first-round auction is reportedly being held again based on the minimum bid set at that time.
The property is tied to Seo Hyun-jin’s jeonse deposit of KRW 2,650,000,000. She signed a lease for the property in April 2020 with a deposit of KRW 2.5 billion. After extending the contract, she increased the deposit by KRW 125 million. However, the issue arose when the landlord was unable to return the deposit even after the contract ended in April 2024.
Seo Hyun-jin preserved her rights through the registration of a leasehold right in September of the same year and has continued to demand the return of her deposit. Earlier, the court had decided to commence compulsory auction proceedings for the property at her request.
The re-auction reportedly took place after the property’s owner, representative Lee Hye-jin, eventually went bankrupt. Lee had supplied high-priced homes in the Gangnam area through the luxury housing brand BRUNNEN, but is known to have experienced financial difficulties during the business process.
According to Ttangjipgo, three of the properties owned by Lee Hye-jin are being put up for auction this time: the fourth-floor unit of Hestia, which is tied to Seo Hyun-jin’s jeonse deposit; the third floor of the same building; and the fifth floor of BRUNNEN CHEONGDAM, which had remained unsold.
In particular, the fourth-floor unit of Hestia reportedly had mortgage liens held by several financial institutions in addition to Seo Hyun-jin’s jeonse right. Circumstances indicating that the landlord used the property as collateral to raise funds have been confirmed, drawing attention to whether Seo will be able to recover the full amount of her deposit.
The problem is that the current minimum bid has fallen significantly below Seo Hyun-jin’s deposit. If the winning bid is lower than the deposit, it will be difficult for her to recover the entire jeonse deposit in a single payment.
Kim Ki-hyun, CEO of Ttangjipgo Auction, explained through Ttangjipgo, “Although Seo Hyun-jin is the holder of the highest-priority registered right, auction costs and legally preferential claims are settled first from the winning bid, and the remaining funds are then distributed to Seo Hyun-jin.”
He added, “She must seek the remaining deposit from Lee Hye-jin separately, but since Lee has already gone bankrupt, the outcome is expected to depend on the assets that remain.”
Meanwhile, Seo Hyun-jin is reportedly living in an apartment in Oksu-dong, Seongdong District, Seoul, after being unable to recover her deposit from the rental home in Cheongdam-dong. The apartment was confirmed to be a property that Seo had previously purchased and owned in her own name.
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