Hong Jinyoung, the risk of plagiarism has disappeared Buying a Building of 3.5 Billion Won

 Hong Jinyoung, the risk of plagiarism has disappeared Buying a Building of 3.5 Billion Won

Singer Hong Jin-young purchased a small building worth 3.5 billion won. For celebrities, a building is a financial technology. Stable profit structures, as well as market profits of at least hundreds of millions or even tens of billions in the subsequent sales process. In addition, it has the advantage of saving taxes.

According to the real estate industry on the 5th, Hong Jin-young purchased a small building in Songjeong-dong, Seongdong-gu, under the name of IMH Entertainment, an entertainment agency he represents, on the 21st of last month. The balance was reportedly paid on the 28th of last month.

The building was completed in June. It has a land area of 135.37㎡ and a total floor area of 270.71㎡ on the fifth floor above the ground. The purchase price is about 3.5 billion won, which is about 83.23 million won per pyeong (based on 3.3㎡).

Hong Jin-young stopped her activities in 2020 due to controversy over plagiarism of her thesis, but returned to the music industry last year after two years of self-reflection. In his heyday, Hong Jin-young went around seven to eight events a day. Even now, after self-reflection, he continues to be active in various events.

Along with the news of Hong Jin-young's purchase of the building, celebrities' "building finance" drew attention. For celebrities, a building is like insurance.

Many celebrities are already buying buildings. In March last year, actress Jeon Hye-jin purchased a building with one basement floor and eight floors above the ground (238.5㎡ of land area and 1,115.48㎡ of floor area) for 14 billion won under the name of Karak Company, a corporation she owns. The purchase price per 3.3㎡ of land area is 194.05 million won.

Actor Ha Ji-won purchased Building 8 near Seongsu-dong for 10 billion won in the name of Haewadal Entertainment, a corporation he founded in 2020. At that time, the purchase price per 3.3㎡ (pyeong) of the building was reported to be 128 million won.

The reason why celebrities invest in real estate is simple. Income instability and diversification of investment destinations are the biggest reasons. Earning a lot during one activity, and not getting a constant amount of money during the break. In other words, you can secure a stable source of income by becoming a building owner. In addition, controversy is unlikely to arise over investment compared to financial investment such as stocks.

It's a good choice for tax savings as well. Celebrities are exempted from taxes by establishing a corporation at the same time as they purchase the building. Unlike individuals who generate rental and capital gains taxes, corporations are calculated as "corporate taxes." Individual businesses are subject to a tax rate of 6-42%, and corporations are at the level of 10-22%.