Shocking Truth Behind Choi Min Hwan’s $27 Million Home Sale Amid His Personal Drama

Choi Min Hwan, who temporarily stepped back from his public career due to personal controversies, has confirmed the sale of his home in the affluent Gangnam district of Seoul for 38 billion won (approximately $27.2 million).

Based on simple calculations, Choi Min Hwan purchased the property nearly a decade ago for around 12 billion won (about $8.6 million). Since then, it has generated a profit of approximately 25 billion won (around $17.9 million).

According to South Korea’s Ministry of Land, Infrastructure, and Transport’s real transaction disclosure system, Choi Min Hwan’s single-family home in Gangnam was sold on Thursday for 38 billion won.

While the transaction has yet to be canceled, it has not yet been registered in the property’s official record.

Choi Min Hwan bought the home in 2015 for 12.5 billion won (about $9 million) and has owned it solely since then.

When he made the purchase, a maximum debt of 1.05 billion won (roughly $753,000) was set. Typically, the maximum debt limit is 110-120% of the loan amount, meaning Choi Min Hwan likely borrowed 800 million won (about $573,800) and 900 million won (approximately $645,600) from a bank to finance the property.

Choi Min Hwan, who married Yulhee, a former member of the K-pop group LABOUM, in 2018, continued to live in the house after their marriage. It’s been reported that Choi Min Hwan’s parents resided on the second floor of the property.

Following their divorce in December 2023, Choi Min Hwan is said to have continued to live in the home with his parents and three children.