BTS' Jin sells luxury Seoul home for huge profit just before stricter tax rules returned
BTS member Jin has reportedly earned a massive profit after selling one of his luxury homes in Seoul, with the timing of the deal drawing attention since it was completed just before stricter capital gains tax rules for multiple-home owners were reinstated. According to Herald Business on Friday, Jin sold a 235-square-meter apartment in the upscale Hannam The Hill complex in Seoul's Yongsan District for 12.7 billion won ($9.2 million) in April. Jin reportedly purchased the property in July 2019 for 4.49 billion won in cash. Based on the purchase and sale prices, he is estimated to have realized a capital gain of approximately 8.21 billion won over nearly seven years. The transaction has attracted additional interest because the contract was signed shortly before the Korean government resumed higher capital gains taxes for owners of multiple homes in designated speculative areas. The stricter tax rules took effect in May. Jin was reportedly the owner of three apartments in the prestigious Hannam The Hill complex, one of Korea's most sought-after residential developments favored by celebri
BTS' Jin / Xportsnews BTS member Jin has reportedly earned a massive profit after selling one of his luxury homes in Seoul, with the timing of the deal drawing attention since it was completed just before stricter capital gains tax rules for multiple-home owners were reinstated. According to Herald Business on Friday, Jin sold a 235-square-meter apartment in the upscale Hannam The Hill complex in Seoul's Yongsan District for 12.7 billion won ($9.2 million) in April. Jin reportedly purchased the property in July 2019 for 4.49 billion won in cash. Based on the purchase and sale prices, he is estimated to have realized a capital gain of approximately 8.21 billion won over nearly seven years. The transaction has attracted additional interest because the contract was signed shortly before the Korean government resumed higher capital gains taxes for owners of multiple homes in designated speculative areas. The stricter tax rules took effect in May. Jin was reportedly the owner of three apartments in the prestigious Hannam The Hill complex, one of Korea's most sought-after residential developments favored by celebrities, business executives and high-net-worth individuals. Following the latest sale, he is said to still own two units in the complex. This article from Xportsnews is adapted by a generative AI system and edited by The Korea Times.
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