Exclusive
Company Owned by Family of Seohee Construction Chairman Lee Bong-kwan Holds Buildings Near Presidential Office in Samgakji

[비즈한국] It has been confirmed that Seohee Construction003580 owns multiple properties in Hangang-ro 1-ga, Yongsan-gu, Seoul. Hangang-ro 1-ga is located near Samgakji Station and is adjacent to the Presidential Office. The area surrounding the Presidential Office is generally not preferred by the real estate industry due to potential variables such as frequent protests and development restrictions. However, with President Lee Jae-myung pushing for a return to the Blue House, the atmosphere in the Hangang-ro 1-ga area is expected to shift.

According to the real estate register, Hanil Asset Management & Investment, an affiliate of Seohee Construction, purchased three buildings near Samgakji Station in 2020. Standing two to three stories high, the properties have a total land area of approximately 633.2㎡ (about 191 pyeong). While not considered a large-scale holding, the purchase did not receive much attention at the time.

However, the situation changed drastically two years later in 2022, when former President Yoon Suk Yeol began using the existing Ministry of National Defense building as the Presidential Office. The buildings held by Hanil Asset Management & Investment are located about 600 meters from the Presidential Office.

After former President Yoon relocated his office, there were predictions that real estate prices in Yongsan-gu would rise. Conversely, some evaluated the area near Samgakji Station, being close to the Presidential Office, as a disadvantage. The reasoning was that large-scale development permits would be difficult to obtain and that the area would be subject to constant small and large-scale protests.

President Lee Jae-myung has announced his intention to return the office to the Blue House. Although no concrete schedule has been released, political circles expect the return to the Blue House to be completed in the near future. As of August 1st, public access to the Blue House has been restricted for security and safety inspections. Once President Lee returns to the Blue House, a major variable affecting the real estate market near Samgakji Station will be removed.

A real estate industry official stated, "The area near Samgakji Station is a double-station hub and is becoming a hotspot known as 'Yongnidan-gil,' making it one of the top locations in Yongsan-gu," adding, "Redevelopment had been pushed forward even before the Presidential Office moved near Samgakji Station, but it had been delayed due to various variables such as economic downturns and the political climate."

The rise in real estate value near Samgakji Station is also expected to benefit the family of Seohee Construction Chairman Lee Bong-kwan (80). Chairman Lee’s eldest daughter, Lee Eun-hee, Vice President of Seohee Construction (52), holds a 20.66% stake in Hanil Asset Management & Investment. His second daughter, Lee Sung-hee, Executive Director of Seohee Construction (50), and third daughter, Lee Do-hee, Head of Strategic Planning at Seohee Construction (43), also hold 17.36% and 11.57% stakes, respectively. The remaining 50.41% stake is owned by Seohee Construction.

Bizhankook attempted to contact Seohee Construction to hear their stance on this matter, but could not reach them.

Recently, Seohee Construction Chairman Lee Bong-kwan confessed to the Kim Keon-hee Special Prosecutor team (led by Min Byung-gi) that he had provided a Van Cleef & Arpels necklace to Kim Keon-hee, the wife of former President Yoon Suk Yeol. The special prosecutor's team is currently investigating whether the gift provided by Chairman Lee involved any expectation of favor.