Reports say that actor Ryu Jun Yeol is expected to make a huge profit from selling his real estate property that he purchased with a 90% loan.
On February 24, entertainment news outlet Dispatch reported that Ryu Jun Yeol has recently sold his building in Gangnam-gu, Seoul, and made a net profit of 4 billion won (approximately 3.3 million dollars).
The actor purchased the building back in 2020 for 5.8 billion won, with over 90% of the payments fulfilled via bank loans.
He then received another loan to renovate the building, and the construction of a brand-new building was completed in November 2021.
However, Ryu Jun Yeol put the new building on sale shortly after that, making a gross profit of 6 billion won after selling the building for 15 billion won (approximately 12.5 million dollars).
Real estate insiders told Dispatch that the actor will be collecting a huge profit from a relatively small investment of 600 million won (approximately 0.5 million dollars).
To this, Ryu Jun Yeol's management agency C-JeS Entertainment stated, "The building in Gangnam-gu was constructed for the purpose of starting a clothing brand with his acquaintances. However, Ryu Jun Yeol decided not to start the business, but rather to sell the building following the COVID-19 outbreak."
(Credit= C-JeS Entertainment)