Founder and CEO of JYP Entertainment, Park Jin Young sold the famous building of the agency.
The building which was bought by Park Jin Young in 2001, has the land area of 329.5㎡ and the gross floor area is 1039.3㎡ with a total of six floors, and a basement, the building has been reported to be bought by SK Happiness for 7.6 billion KRW or $ 7.6 million USD.
SK Happiness’ Chief Director Choi Ki Won, the younger sister of SK Group’s President Choi Tae Won Is now the building's new owner. News outlet, Herald News have reported that SK Hapiness has intentions to use the building which is located in Cheongdam.
Though they have sold the building, JYP Entertainment will still be using the building as they have leased it for 1 billion KRW or approximately $1 million USD with the monthy rent of 25 million KRW. JYP Entertainment has leased it for three years.
After 13 years, the building has appreciated 300% as it was bought in 2001 for only 2 million KRW.