[Exclusive] SPC Chairman Hur Young-in Purchases Two Units at Upper House Namsan for 20 Billion Won

[비즈한국] It has been confirmed through Bizhankook's investigation that SPC Group Chairman Hur Young-in purchased two units at Upper House Namsan, a luxury villa located in Itaewon-dong, Yongsan-gu, Seoul. Upper House Namsan has previously garnered attention as the residence of Chung Mong-joon, Chairman of the Asan Foundation; Suh Min-jung, eldest daughter of Amorepacific090430 Chairman Suh Kyung-bae and manager of the Luxury Brand Division AP team; actor Ha Jung-woo; and singer Psy.

Upper House Namsan, a luxury villa in Itaewon-dong, Yongsan-gu, Seoul, recently purchased by SPC Group Chairman Hur Young-in. Photo = Upper House website

According to the real estate registry, Chairman Hur Young-in purchased a 3rd-floor unit (exclusive area of 234.91㎡, 71 pyeong) and a 4th-floor unit (exclusive area of 232.66㎡, 70 pyeong) in Building B of Upper House Namsan on November 22, 2021. He subsequently completed the final payments on December 30 of last year and received ownership from the developer. Although the exact purchase price is not listed in the real estate registry, it is estimated that the combined purchase price for the two units reaches 20 billion won, considering that a 2nd-floor unit in Building A was sold for 10.8 billion won last August.

Chairman Hur already owns a detached house in the "Itaewon Hill" area, one of the wealthiest neighborhoods in the country, and purchased a duplex unit at Nine One Hannam (exclusive area of 273.94㎡, supply area of 334.17㎡), famous as a top-tier luxury apartment complex, for 7.4 billion won in March 2021. His official resident registration address is reportedly the detached house on Itaewon Hill. Real estate industry experts suggest it is highly likely that Chairman Hur’s actual place of residence is either Upper House Namsan or Nine One Hannam.

SPC Chairman Hur Young-in attending a parliamentary hearing on industrial accidents and worker fatalities held at the National Assembly in Yeouido, Seoul, in December 2023. Photo = Reporter Park Eun-sook

Meanwhile, Asan Foundation Chairman Chung Mong-joon also owns two units at Upper House Namsan, much like Chairman Hur. Recently, it was confirmed that his second daughter, Chung Sun-yi, and her husband, Baek Jong-hyun, CEO of HEA, purchased a unit in Building A of Upper House Namsan (exclusive area of 234.2㎡, 71 pyeong). It has been confirmed that they have not yet filed a change of address. If the couple moves in, the father and daughter will be residing in the same villa complex.