[Exclusive] Real Estate in Mok-dong and Yeonhui-dong Owned by Kim Man-bae's Sister Seized Again

[비즈한국] It has been confirmed that additional real estate properties owned by Kim Myeong-ok, the older sister of Kim Man-bae, have been seized. While the measures are presumed to be due to tax delinquency, the exact reasons have not been disclosed as they constitute private information. Kim is known to be the CEO and owner of Bogyeong (formerly Cheonhwa Dongin No. 3).

A villa in Mok-dong, Yangcheon-gu, Seoul, owned by Kim Myeong-ok. A person named Park provisionally seized this villa in March of this year. Photo = Reporter Park Hyung-min

Mok-dong Villa: Seized by the State, Followed by Private Provisional Seizure

Kim Myeong-ok purchased the villa located in Mok-dong, Yangcheon-gu, Seoul, in 2005. This villa also serves as the registered headquarters of Bogyeong. Kim's registered place of residence is also this villa.

Bizhankook previously reported that Kim's Mok-dong villa was seized by the government in May of last year. The National Tax Collection Act stipulates that "if a taxpayer fails to pay national taxes or arrears in full by the designated deadline after receiving a demand notice or a notice of collection before the payment deadline, compulsory collection shall be carried out according to the procedures of property seizure, sale/collection, and liquidation of seized property."

Accordingly, it is speculated that the seizure is due to Kim's failure to pay taxes, but the exact reason remains undisclosed as it is private information (Related article: [Exclusive] 'Cheonhwa Dongin No. 3 Headquarters' Kim Man-bae's Sister's Mok-dong Villa Seized).

According to the real estate register, Yangcheon-gu also seized the Mok-dong villa in November of last year, followed by an additional provisional seizure by a person named Park on March 4 of this year. A provisional seizure is a legal procedure where a creditor obtains a court order to temporarily freeze a debtor's assets to prevent them from hiding property before a lawsuit.

This suggests that Kim Myeong-ok failed to repay a loan borrowed from Park, leading to the provisional seizure of the villa. Park has claimed 390 million KRW from Kim. Bizhankook attempted to contact Park's side on March 30 to hear their position, but did not receive a response.

A house in Yeonhui-dong, Seodaemun-gu, Seoul, purchased by Kim Myeong-ok from the late Yoon Ki-joong, Professor Emeritus at Yonsei University, in 2019. Photo = Reporter Lee Jong-hyun

Yeonhui-dong House: Additional Seizure by Seodaemun-gu Property Tax Division

It has also been confirmed that an additional seizure has been placed on the house in Yeonhui-dong, Seodaemun-gu, Seoul, owned by Kim Myeong-ok. Kim purchased the Yeonhui-dong house in 2019 from the late Yoon Ki-joong, Professor Emeritus at Yonsei University and father of former President Yoon Suk-yeol. This house was seized by the state in June of last year, and the disposing authority is the Yangcheon District Tax Office (Related article: [Exclusive] Yeonhui-dong House Owned by Kim Man-bae's Sister Also Seized... Previously Purchased from Yoon Suk-yeol's Father).

According to the real estate register, Seodaemun-gu also seized the Yeonhui-dong house in December of last year. The department in charge is the Seodaemun-gu Property Tax Division. The seizure established by the state in June of last year has not yet been lifted.

Meanwhile, although Kim Myeong-ok is currently listed as the CEO of Bogyeong, it is known that the company's business activities have effectively ceased.