[비즈한국] It has been confirmed through Bizhankook's investigation that OCI Holdings Chairman Lee Woo-hyun010060 is facing potential fines and penalties after failing to update the ownership registration of a detached house in Seongbuk-dong, Seoul, which he had received as an advance gift from his late father, Chairman Lee Soo-young, and subsequently sold. Although Chairman Lee sold the property four years ago for 7.5 billion won, the buyer has yet to file for a transfer of ownership with the court.
According to the Ministry of Land, Infrastructure and Transport's public system for actual transaction prices, OCI Holdings Chairman Lee Woo-hyun sold the Seongbuk-dong house, inherited from his late father, for 7.5 billion won in February 2021. The late Chairman Lee Soo-young built the house in May 1984 on a 945-square-meter (286-pyeong) plot, featuring one basement level and two above-ground floors (total floor area of 487.1 square meters, or 147 pyeong), and gifted it to Chairman Lee Woo-hyun in June 2014. Given that Chairman Lee Woo-hyun registered this house as his official address until recently, it is presumed that he lived there following his father's passing.
Although Chairman Lee sold the property four years ago, ownership has yet to be transferred. Only the transaction price was registered with the Ministry of Land, Infrastructure and Transport, and neither the seller nor the buyer has filed for an ownership transfer registration with the court. Failure to file for a transfer of ownership within 60 days of a real estate sales contract results in a fine. If the delay exceeds three years, a penalty is also imposed for violating the law. The responsibility for these fines and penalties lies with the buyer, though the seller is also permitted to file for the transfer of ownership with the court.
Bizhankook obtained the real estate register on April 10, but because no transfer of ownership has been filed with the court, it was impossible to verify the buyer's identity.
Furthermore, the buyer even sold the Seongbuk-dong house—purchased for 7.5 billion won—for 7.9 billion won on February 8 of this year, netting a 400 million won profit; however, this transaction has also not been filed with the court. The property includes an auxiliary building used as a garage (40.25 square meters, 12 pyeong), and its officially assessed individual housing price for this year is 4.865 billion won.
Bizhankook reached out to OCI Holdings through various channels regarding this matter, but could not make contact.