Public Outcry Over AN YUJIN's 'Lottery Apartment' Win: Why Critics Are Calling for Reform

Reports that AN YUJIN, a member of the idol group IVE, has won a bid for an apartment in The H Bangbae—a development expected to yield a market profit of approximately 1.8 billion won—have sparked frustration among prospective homebuyers, who are pointing to loopholes in the housing subscription system.

It has been reported that AN YUJIN won a subscription for The H Bangbae in Bangbae-dong, Seoul, which is scheduled for move-in this coming September.

The complex offered a total of 215 units through a lottery system, and it is reported that AN YUJIN was selected for one of them.

For lottery-based allocations, 75 percent are prioritized for those who do not own a home, while the remaining 25 percent are selected from a pool that includes both non-homeowners who were not selected in the first round and existing homeowners.

The complex began its presale in August 2024, with prices set at 1.7025 billion won for 59 square meters, 2.243 billion won for 84 square meters, and 2.5 billion won for 101 square meters.

Lottery-based units were only allocated for sizes of 84 square meters or larger.

The current asking price for an 84-square-meter unit in the complex is around 4 billion won, meaning that if the winning bid was for an 84-square-meter unit, the expected market profit is approximately 1.8 billion won.

Following the news of AN YUJIN's win, prospective homebuyers have criticized the current subscription system, calling it a system that only benefits the wealthy.

While new apartments in the Gangnam area are subject to price caps, allowing them to be purchased at significantly lower prices than the market rate, winning a subscription requires a substantial amount of cash.

In the case of The H Bangbae, the down payment is 20 percent, meaning that for an 84-square-meter unit, one must have 400 million won in cash to sign the contract.

Furthermore, since the interest on intermediate payments is not deferred, those who take out loans for these payments must be able to afford monthly interest payments amounting to millions of won.

On an anonymous online community for office workers, critics argued, "The current subscription system provides lottery-like opportunities only to a very small number of people who have cash," adding, "Average young people do not have the liquid cash that AN YUJIN has, and even if it is a lottery, the qualifications required to enter the lottery itself are an insurmountable wall."

Regarding the reports of AN YUJIN's subscription win, her agency stated that it is difficult to confirm as it is a private matter.

Reported by Jung Da-eun | Video by Choi Gang-san | Graphics by Lee Soo-min | Produced by SBS Digital News
※ Please note: This article was translated by AI and may contain errors.