Kyuhyun, a member of Super Junior, is selling a property that used to operate as a guesthouse. The building, located in Namsan-dong, Jung-gu, Seoul, is up for sale for 9.5 billion KRW (approximately 7 million USD) as reported by Hankyung.com on May 26. The total asking price, including the adjacent lot behind the building, is 11.8 billion KRW (approximately 8.7 million USD).
Kyuhyun acquired the properties in June 2014, located near Exit 2 of Myeongdong Station, a prime location. The main building, with a total floor area of 1,714㎡ across six above-ground floors and one basement level, was purchased for 7.3 billion KRW. An additional adjoining 70㎡ two-story building was bought for 2.3 billion KRW, making the total purchase price 9.6 billion KRW.
Records show a maximum secured debt of 6 billion KRW at the time of purchase, indicating that a substantial portion of the total price was likely funded through loans.
Initially, the building housed businesses like a photo studio before being transformed into a guesthouse and café operated by Kyuhyun's father.
When Kyuhyun appeared on MBC's 'Radio Star,' he shared that the guesthouse was opened during a period of high tourism in Korea, with Myeongdong attracting many visitors. His family managed the property, which featured around 60 rooms. During its peak, the guesthouse reportedly earned up to 17 million KRW (approximately $12,500) in room revenue over a single three-day weekend, resulting in praise for Kyuhyun's successful real estate venture.
However, due to the impact of the COVID-19 pandemic, a decrease in tourism, and changes in tourist destinations, the property is now being put up for sale.