[비즈한국] It has been confirmed that Celltrion068270, a leading domestic biopharmaceutical company, purchased a detached house in Daejang-dong, Seongnam, Gyeonggi-do, previously owned by an outside director of a former affiliate, for 6.2 billion won. The seller is a journalist who served as an audit committee member and outside director at Celltrion Healthcare, which was absorbed by Celltrion, for over five years. Celltrion explained that the house was purchased to be used as a guesthouse and that legal reviews were conducted regarding potential conflicts of interest and special relations.
According to Bizhankook's coverage, Celltrion purchased the luxury detached house in Daejang-dong, Seongnam, Gyeonggi-do, owned by Mr. A, a former outside director of Celltrion Healthcare, on the 24th of last month for 6.2 billion won. The house consists of one basement level and two above-ground floors (total floor area of 614㎡), and is structured as a commercial-residential building with a portion of the basement used as a retail shop. The land area is 1,092㎡, with the transaction price equating to approximately 18.77 million won per 3.3㎡ of land. Both parties signed the sales contract on the 20th of last month and completed the transfer of ownership four days later.
Mr. A was an outside director at Celltrion Healthcare, which was later absorbed into Celltrion. He was appointed as an outside director of Celltrion Healthcare in March 2018 while working as a broadcast journalist (anchor), serving a two-year term. He was subsequently reappointed twice. Serving as an outside director who also acted as an audit committee member, he was responsible for overseeing the company's executive operations and accounting. He lost his status as an outside director and audit committee member when Celltrion Healthcare was absorbed by Celltrion in December 2023.
Mr. A had owned the Daejang-dong detached house for approximately 3 years and 3 months. Mr. A purchased the land and the original house in April 2016, before his appointment as an outside director, for 1.87 billion won. He demolished the building in July of that year and began construction of the new detached house in June 2018, after taking his position as a director. The current house was completed in January 2023.
This transaction took place shortly before the end of the deferral period for the punitive capital gains tax on multi-homeowners. The sales contract between Celltrion and Mr. A was signed 19 days before May 9, when the tax deferral ended. In addition to the Daejang-dong house, Mr. A owned a high-priced apartment in Gangnam-gu, Seoul.
Celltrion explained that the house was purchased to serve as a guesthouse. A Celltrion official stated, "We operate a guesthouse to host overseas clients and key partners. The existing guesthouse in Songdo, Incheon, has low accessibility for business meetings and, as a rented facility, has limitations regarding structural changes or facility repairs for corporate use. We decided to purchase the Daejang-dong property because it offers excellent accessibility and allows for independent operation."
They added, "We began reviewing real estate purchases after the start of this year. While considering multiple candidate properties for a new guesthouse, we received this offer and included it in our review. We determined that this property best met our needs in terms of location, price, and structure, and finalized the purchase after legal review and internal procedures."
According to disclosures on the Celltrion website, the company's headquarters and major business divisions are located in Songdo-dong, Yeonsu-gu, Incheon. Outside of Songdo, major business sites include the Chemical Research Center in Garak-dong, Songpa-gu, Seoul, and the Branchburg plant in the US. The newly purchased house in Daejang-dong is 45km away from Celltrion's headquarters by car, 27km from downtown Seoul (Seoul City Hall), and 17km from the Gangnam area (Gangnam Station).
Celltrion maintains that the fact the seller is a former outside director of an affiliate does not present an issue. A Celltrion official said, "Considering the counterparty was a former outside director, we conducted thorough internal compliance and legal reviews regarding potential conflicts of interest and special relations. The purchase price was determined by comprehensively reviewing appraisals from assessment firms, local market prices, and bank valuations to ensure transparency and objectivity."
Meanwhile, the National Tax Service (NTS) is conducting a full-scale investigation into high-priced properties owned by corporations to determine if they are being used for business purposes. On the 12th of last month, NTS Commissioner Im Gwang-hyun stated via social media that the agency would inspect the usage of 2,630 high-priced houses owned by corporations with an official assessed value exceeding 900 million won to verify whether they were being used for tax evasion via non-business properties. It is reported that the NTS is currently focusing on whether these corporate-owned houses are being used for personal purposes, led by the Corporate Tax Division.