[Exclusive] Choi Jin-min, Chairman of Kiturami, Purchases "Parc Hannam," Formerly Rented by BTS's Suga, for 17 Billion KRW

[비즈한국] Choi Jin-min, founder and chairman of the boiler manufacturing and sales company Kiturami Group, is purchasing "Parc Hannam," a luxury villa in UN Village where BTS member Suga (born Min Yoon-gi) previously resided under a jeonse (long-term deposit) lease, for 17 billion KRW. Before paying the full purchase price, Chairman Choi filed a provisional registration for a claim to transfer ownership with the court.

Kiturami Group founder Chairman Choi Jin-min (left) is purchasing Parc Hannam, where BTS member Suga lived under a jeonse lease, for 17 billion KRW. Photo = Kiturami, Bizhankook DB

Kiturami Chairman Choi Jin-min and his wife, Kim Mi-hye, former chair of the Kiturami Welfare Foundation, filed a reservation of sale for a unit at Parc Hannam, a luxury villa located in UN Village, Hannam-dong, Yongsan-gu, Seoul, on the 19th. It has been confirmed that after signing a sales contract with the developer of Parc Hannam, I-Ville C&C, on October 22nd to purchase the unit for 17 billion KRW, they applied for a provisional registration for a claim to transfer ownership with the court before paying the balance. The unit is a duplex with a private area of 268.96㎡ (81 pyeong), a supplied area of 320.7㎡ (97 pyeong), and a total sales area of 411㎡ (124 pyeong). Chairman Choi is expected to hold a 1/4 stake, while former Chair Kim will hold a 3/4 stake.

Parc Hannam, a luxury villa in UN Village, Yongsan-gu, Seoul. Photo = Reporter Im Jun-seon

The duplex unit at Parc Hannam for which Chairman Choi Jin-min and his wife have filed a sales reservation is the place where BTS member Suga lived under a jeonse lease until recently. Previously, Suga purchased a unit on the 3rd floor of Hannam Riverhill, another luxury villa in UN Village (private area 244.19㎡, supplied area 260.08㎡), for 3.4 billion KRW in November 2018, but moved to Parc Hannam in November 2021 following conflicts with other residents. The jeonse deposit for the unit reached 9.5 billion KRW, which was paid by Big Hit Music. It is known that Suga lived there until this past May before moving to Nine One Hannam.

Meanwhile, Chairman Choi Jin-min's current residence according to his resident registration is a 6th-floor unit in a villa-apartment located in Ichon-dong, Yongsan-gu, Seoul (private/supplied area 229.75㎡). He received this apartment through a public sale in April 1984 and gifted it to his son, Choi Young-hwan, an executive at Kiturami Holdings, in May 2019.