which has been held for more than two weeks and the scenery in front of the presidential residence is returning to daily life Nearby residents and merchants were pleased with the noise and expectation that the crowds caused by the assembly would disappear Traffic flow in front of Hannam-dong was good on the morning of the 16th "I've been commuting by subway for a while due to the heavy congestion from Hannam Bridge to Namsan Tunnel 1 in the aftermath of the protest," said Yoo (38) who went to work by seat bus from Yongin-si "I sat in a bus seat and went to work comfortably after hearing that the road was empty for the first time in a long time." Residents of Hannam-dong began to breathe a sigh of relief as the crowd of pros and cons in front of the presidential residence began to withdraw at 11 a.m when President Yoon Suk Yeol was transferred to the high-ranking government official's crime investigation office "I had to take a walk every morning and night due to health problems but it was very inconvenient because the noise was severe and it was difficult to pass through," adding "I am very fortunate as a resident regardless of politics." all the assembly processions were withdrawn and the vicinity of the official residence was quiet for the first time in a long time When the sidewalk was full of rally participants When the police and the Senior Civil Servant Corruption Investigations Unit withdrew most of the personnel and vehicles nearby residents were happy to be "liberated" from the noise of protesters The reality is that commuting to work was not easy because of the 700m-long road from the intersection of North Korea to the side of Hannam-cho office workers who were trying to go to work at the building near the official residence were blocked by protesters and police and complained "I was stuck in the office even during lunchtime because I didn't dare to come back in once I left the building because of the assembly At least it became easier to eat lunch," he said with a lighthearted look Merchants near the official residence also welcomed the withdrawal of the assembly This is due to the expectation that not only will it be easier to manage the shopping mall but also profits will be returned to their original state but there were many customers who only used the bathroom or left their luggage The number of customers did not increase as much as I thought because the assembly voluntarily distributed coffee." Lee said I want to greet regulars as usual and return to a comfortable atmosphere." Those who had to visit Hannam-dong for work also breathed a sigh of relief A courier who visited Hannam-dong on the 15th for delivery recalled that he wiped his sweat several times even in the middle of winter while penetrating the gathering crowds from dawn "I had to move the parcel from the hill to Guruma (milk tea) because I couldn't get into the alley," and added "It was hard to persuade the police to open a barricade "What if I don't get a parcel at this time of the year?" I've been really eagerly waiting for the rally to end," he said some people were worried that the rally would be held again and tried to come up with their own countermeasures a security guard at a high-rise building in front of the residence "It was hard to prevent people who didn't even know the identity from coming in and insisting on 'going to the rooftop' or 'going to the bathroom,'" adding "I'm worried that I should change my approach while I have time because I don't know when there will be another rally." ※ This service is provided by machine translation tool major suburban outlets will also operate normally on Lunar New Year's Day According to the distribution industry on the 17th Lotte plans to operate eight suburban outlets on the 29th as well as Iapolis branch and Buyeo branch Hyundai Outlets will also start operating normally including Hyundai Premium Outlet Gimpo Branch are closed during the Lunar New Year holiday Shinsegae also has all five stores in Yeoju All three companies are open from noon to 9 p.m the policy is to decide whether or not to operate a Lunar New Year autonomously by the store brand It should be noted that this is the first time that Lotte and Hyundai's outlet stores are open on the day of Lunar New Year As the 27th is designated as a temporary holiday the Lunar New Year holiday has been extended to 9 days and it is interpreted as reflecting the trend of young people enjoying leisure without returning home for the holiday holiday "As the holiday is prolonged according to the government's designation of a temporary holiday we will proceed with business on the day of Lunar New Year's Day based on the prediction that more customers will enjoy traveling or shopping." Lotte and Shinsegae operated mainly in suburban stores The retail industry has drawn attention as the first business case on the day of Chuseok since the opening of outlet stores in 2008 and 2007 major department stores are expected to remain closed on the day of the Lunar New Year and Gimpo Airport branch will close on the 28th and 29th Bundang and Centum City branches are closed on the 29th and 30th Shinsegae Department Store will close Gangnam and Cheonan Asan on the 28th and New Year's Day Shinsegae headquarters will close on the 29th and the following day on the 30th while Hanam branch will close only for one day on the 29th Hyundai Department Store will close 10 stores (trade center stores etc.) will not be open on the 29th and 30th the Seoul Central District Court received an auction case in May for a 240㎡ (about 72 pyeong) real estate dedicated to Hannam The Hill in Hannam-dong and decided to start a forced auction in the same month The compulsory auction is carried out when the debtor fails to repay the loan by the due date by seizure and auction of the debtor's real estate in the court The ownership of the building is owned by former agency of Park Hyo-shin and it is known that he has no opposing power over the auction case one of Glove Entertainment's creditors with a net loss of 6.7 billion won as of 2020 filed for auction in April 2022 after receiving a loan payment order from the court in September 2020 and the auction was canceled in January this year due to the court's suspension of execution Glove Entertainment reportedly filed a lawsuit against the claim along with the suspension of execution The previous appraised value of the auction item was 7.89 billion won Park Hyo-shin signed an exclusive contract with Glove Entertainment but set up an agency himself after a conflict in 2022 by filing a lawsuit against the agency "I haven't received music revenue and an exclusive down payment for three years." He will release his new single "HERO" on the 16th a pop-up store promoting new toys and clothing products was attracting passers-by in a colorful appearance who met at a pop-up store for character props crowded with visitors "I visited this place with my friends because the interior was well designed to take pictures." is considered a sacred place for pop-up stores among fashion-conscious MZ generations in their 20s and 30s Crowds were looking for pop-up stores decorated like sets to promote food so they had to put their names on the waiting list to enter An official from a pop-up store I met here said and it is difficult to pass through Seongsu Alley." Pop-up stores that promote new products are gaining popularity among the MZ generation as word of mouth spread as "hot people." 91 pop-up stores opened nationwide as of the 3rd and 18 pop-up stores are operating in Seongsu-dong alone It is the concept of a temporary store that closes within a day or months at the most The problem is that it is suffering from waste problems as it is only a one-time exhibition that is quickly demolished Since the splendidly decorated pop-up store was demolished the materials have been piled up as waste that is difficult to recycle Since the demolition cycle is extremely short compared to general construction it is being pointed out as a new environmental pollution source the demolition will be over at around 8 a.m up to seven pieces of waste will be poured out based on a one-ton truck There are many materials that are difficult to recycle increased 35% in five years from 60.18 million tons per year in 2017 to 81.06 million tons in 2022 According to the Seoul Metropolitan Government in Seongdong-gu increased more than 10 times in four years from an average of 51 tons per day in 2018 to 518 tons in 2022 Analysts say that the increase in business waste is not irrelevant to the waste pouring out of pop-up stores that have recently increased rapidly head of the Green Society Team of the Green Alliance should be made to be reused elsewhere in the future," adding "It is a serious problem in terms of the environment to use and discard construction materials for the week of the pop-up store." construction waste exceeding 5 tons is required to be reported to the local government for separate discharge and recycling but pop-up store waste is usually around 3 tons so it is not necessary to go through this procedure it is pointed out that waste from demolishing pop-up store stores is often incinerated instead of recycling with high disposal costs the number of pop-up inquiries has increased six times compared to three years ago and the actual installation has increased three times," adding "I thought that there was too much waste because the structure was briefly installed and dismantled and I visited a material factory and thought about a recyclable pop-up interior." A luxury multi-family villa in Hannam-dong This item has been auctioned off once before According to the auction industry on the 11th The compulsory auction is carried out when the debtor fails to repay the loan by the date of repayment by seizure and auction of the debtor's real estate in the court The target of the auction is land and buildings The ownership is owned by Glove Entertainment Park signed an exclusive contract with Glove Entertainment He later broke up with Glove Entertainment in 2022 on the grounds that he had not received music revenue and exclusive down payment for three years Glove Entertainment is said to have filed a lawsuit against the claim along with a forced suspension of execution the amount of the sale will be taken by creditors according to the order of real estate registration What attracts attention is that the appraisal value of auction items has jumped significantly The previous appraisal price was 7.89 billion won but it reached 13.8 billion won at this auction This is attributed to the recent increase in the sale amount of Hannam The Hill "The auction's appraisal was conducted in April 2022 so it was two years ago when the auction was applied the appraisal price is lower than the market price," adding there is a possibility that the auction will be sold at a higher price than the lowest price of 13.8 billion won." Hannam The Hill is a high-end residential complex that has maintained its No 1 position in the actual transaction price of apartments in Korea for more than a year including its high location advantage and pride of living here a dedicated 242㎡ (1st floor) was changed for 10.3 billion won a dedicated 233㎡ (10th floor) was sold for 10.6 billion won It is estimated that the Hannam-dong building in Yongsan-gu According to the real estate industry and News 1 on the 22nd Song Hye-gyo purchased a five-story building with a land area of 149.35 pyeong and a construction area of 74.61 pyeong in Hannam-dong The building is said to be located at the entrance of the "Hannam The Hill" apartment complex Song Hye-kyo purchased 11.5 billion won in cash and 8.5 billion won in bank loans under his personal name has a total floor area of 445.22 pyeong with two basement floors and five ground floors It is known that high-end restaurants and studios such as Korean restaurants selected for Michelin Guide Seoul 2024 are currently located It is located 900m to Hannam Station on the Gyeongui Jungang Line on foot and 1.2km to Hangangjin Station on Line 6 According to the recent transaction of the closest building The building was built in 1989 and is valued at a land price with little building price Considering that the building purchased by Song Hye-kyo was 130.57 million won per pyeong of land at the time the market price of the building is currently 25.53 billion won It is up more than 6 billion won from the time of purchase in 2021 "If you multiply the land area of 149.35 pyeong of Songhyegyo Building by 165 million won per pyeong it becomes 24.64 billion won," said Kim Kyung-hyun deputy director of Building Road Real Estate Corporation "If you calculate the cost of new construction per pyeong in 2014 and the price of the building applied with depreciation 10 years later it is expected to be 890 million won by multiplying the total floor area of 445 pyeong." will be reconstructed into a large apartment complex with 1,840 households around 50 floors According to the maintenance industry on the 12th the Seoul Metropolitan Government prepared a quick integration (new communication) plan for the reconstruction of Shindonga apartments the previous day and held a briefing session for residents Shintong planning is a system in which the Seoul Metropolitan Government drafts a maintenance plan with the private sector It is characterized by the city intervening from the initial stage and setting up a plan that can quickly pass the deliberation Shin Dong-A Apartment was built in 1984 with up to 13 stories It is the largest apartment complex in Yongsan-gu Although it is located in Seobing-dong in the administrative district it is also called "Ichon Shindonga" because it is adjacent to Dongbu Ichon-dong The advantage is that it is in the station area of Seobing High Station on the Gyeongui Jungang Line and has excellent views an adjunct professor at Konkuk University's Graduate School of Real Estate "It is the best viewing apartment in Seoul The complex is located along the Han River for 1km so you just have to choose whether to go to the Han River view or the Park view." An official from the Seoul Metropolitan Government also said "It is a very good area where you can see Namsan Mountain as well as the Han River and parks," adding "It has a very important view point in terms of landscape planning." The plan includes measures that take into account such locational characteristics a wide-area green axis was created connecting Namsan-Yongsan Park-Han River It is designed to be able to walk from Yongsan Park to the Han River by receiving public donations of two three-dimensional pedestrian bridges Through the Dongbingo Neighborhood Park around the complex it is also connected to the Submersible Bridge The submersible bridge will be transformed into the first walking bridge on the Han River in 2026 you can walk to Banpo Hangang Park in Seocho-gu by walking to the Submersible Bridge "Yongsan Park~Han River~Jamsugyo Bridge~"We want to connect to Banpo by walking and bicycle "We will establish a network system linking Gangnam and Gangbuk around the Han River." Plans have also been made to revitalize the Han River It is to create multi-purpose sports facilities there was a condition that the Namsan landscape must be secured when arranging the main building The guideline is to secure a 120-meter section of the Namsan view by placing only low main buildings 8 to 10 stories above the ground in the center of the complex The first main building that touches the Han River can only be built with 20 stories or less high-rise driving units of around 50 floors were placed on both sides The total number of households was designed to be around 1,840 this may change depending on how the combination structures equilibrium in the future many residents complained about the Namsan Tonggyeong Festival It is a concern that it can be overcrowded only at both ends the Seoul Metropolitan Government took a firm stance "It is in the legal plan that Namsan Tower and the seventh ridge should be visible when viewed from Seorae Island in Banpo." Based on the opinions of residents the Seoul Metropolitan Government plans to finalize the plan the union should establish a maintenance plan and undergo deliberation by the Seoul Metropolitan Government Yongsan-gu announced on the 10th that it had submitted an application to the Seoul Metropolitan Government for a new communication planning advisory project to reconstruct the 1st district of Ichon-dong the target site is 49 floors above ground and 796 households It also plans to create a five-story complex community center with daycare centers It is characterized by the Han River's side and is adjacent to the Yongsan International Business District (Yongsan Maintenance Window Site) which is scheduled to begin construction next year Attention is focusing on whether the Yongsan International Business District project will gain momentum and the reconstruction project in the western Ichon-dong area will also gain momentum and Seongdong-gu are driving housing prices in Seoul and "Mapozai Hill State Ratchells," which will start its subscription from the 1st of next month dubbed "Majahill," is the first large complex apartment (1101 households) to enter Gongdeok-dong It is expected to be the successor of the region's large apartment "Maforamian Prugio (Marapu)." According to the subscription home and sales industry on the 23rd Maja Hill will open a sample house at the Jai Gallery in Daechi-dong Seoul on the 28th and accept subscriptions from the 1st to the 3rd of next month A total of 463 households will be sold in general with 213 special supply and 250 general supply Newlywed couples (79 households) have the most special supply followed by multi-child households and institutional recommendations (43 households each) and elderly parents' support (10 households) which will be built by GS E&C and Hyundai E&C together will be built as a housing reconstruction maintenance project in Gongdeok District 1 and the national equilibrium (84㎡) is between 1.6 billion won and 1.7 billion won depending on the type and layer The sale price per pyeong exceeds 50 million won the highest among the apartment prices for reconstruction in Gangbuk and there is no mandatory period of residence The real estate industry predicts that Maja Hill will be hot to subscribe with both location and scale competitiveness It is five minutes away from Aeogae Station on Subway Line 5 and you can reach key office areas such as Gwanghwamun and Euljiro as well as Yeouido in 30 minutes it is difficult to surpass Maraefu (3885 households) but the advantages of excellent location and new construction are expected to be popular factors Maraepu is an apartment complex with elementary schools and 4 are assigned to Ahyeon Elementary School and complex 3 is assigned to Hanseo Elementary School Majahill will be assigned to Soi Elementary School House prices in Mapo-gu are fluctuating day after day The 84-square-meter Mapo Prestige Xi in Yeomni-dong was traded in April at 2 billion won this year It has recovered 100% from its previous high (December 2020) Maraepu has the highest transaction price of 1.85 billion won this year based on 84㎡ A number of transactions in the mid-1.8 billion range have been signed recovering more than 95% of the previous high (1.945 billion won Gongdeokzai in Ahyeon-dong was traded for 1,696 billion won (19th floor) for 84㎡ last month It jumped more than 100 million won from 1.55 billion won (18th floor) in January this year The 84-square-meter Mapo Grand Xi in Daeheung-dong was signed for 1.83 billion won (10th floor) in April the same floor was traded at 1.75 billion won jumping nearly 100 million won in two months according to apartment price trends in the third week of June announced by the Korea Real Estate Agency on the 20th the overall sale price in Seoul rose 0.15% some international galleries expand in Seoul Esther Schipper move to expanded spaces in Hannam-dong; Massimodecarlo represents Korean artist Hejum Ba Despite the prevailing cautious atmosphere in the Korean art scene amid the country's political turmoil and economic slowdown some international galleries are pushing ahead with proactive decisions -- expanding their spaces and choosing to represent Korean artists here which opened its space in Seoul in 2022 in Gangnam-gu opening its doors to the public on Thursday “This expansion marks a significant milestone in our journey reflecting our dedication to engaging with Seoul’s vibrant art scene,” said Duarte Sequeira “By establishing our presence in this energetic neighborhood we aim to offer visitors a more comprehensive experience of our artists and programs fostering deeper connections within Seoul’s art community.” Since the opening of its Seoul branch in September 2022 it has introduced a diverse range of artists to Korea through 15 exhibitions and projects The previous space was located on the second floor of Yoo Hyun-joon Architecture Office in Gangnam-gu said they found the neighborhood to be ideal for meeting collectors located between two other art clusters in Seoul -- Cheongdam-dong and Samcheong-dong The first exhibition at the new space is “fresh floral ice milk soft blue bruise,” which brings together a new series of digital paintings by American artist Petra Cortright Italian gallery Massimodecarlo announced Thursday it will represent Korean artist Hejum Ba making her the first Korean artist the gallery has signed since opening its Seoul studio in Gangnam-gu last year Ba is the second Korean artist to join the gallery’s roster following Yee Soo-kyung Massimodecarlo will present three of the artist’s paintings at the upcoming Art Basel Hong Kong The gallery showcased Ba’s first solo exhibition at Massimodecarlo Hong Kong in 2024 “Hejum’s paintings are not mere random arrangements of lines and color fields they represent a meticulous dissection and abstraction of the peculiarities of our contemporary experiences … Hejum Ba looks and listens at what surrounds her the seeming schizophrenia of modern life is neither foreign nor bizarre but rather a familiar muse,” the gallery noted on her works shown at the Hong Kong exhibition last year European gallery Esther Schipper launched its project space in 2022 in Itaewon-dong and recently moved to Hannam-dong in February as a new gallery space better suited to large-scale exhibitions Its move to invest in the Seoul gallery is part of its efforts to continue its commitment to the Korean art scene as a gallery that was engaged with the art scene for over a decade before it had a physical space “The remarkable and rapid ascent of Seoul as a global art hub has been fascinating and a privilege to be part of,” said Esther Schipper “We have observed that the Korean art market is dynamic and highly engaged with a strong appreciation for both established and emerging contemporary art There is an increasing openness to experimental and interdisciplinary practices which resonates with our gallery’s program and vision.” the gallery runs spaces in Berlin and Paris The plan to unify the candidacies of conservative People Power Party presidential candidate Kim Moon-soo and former Prime Minister Han Duck-soo faces a rocky road Democratic Party alleges 'judiciary coup' threatens to impeach Supreme Court justices Korea’s Czech nuclear plant deal halted by court injunction Amazon Prime sign deal to increase K-content access Korea mark 60 years of ties with sculpture Netflix's 'The Devil’s Plan' returns with star-packed season 2 Seoul to host inaugural 'MyK Festa' in June 'Smile at me': Cancer-fighting senior influencer inspires with strength Yoo Seung-ho returns to stage as Brutus in reimagining of 'Julius Caesar' [Photo News] Korea gears up to celebrate Buddha's birthday Respect wanes: Teaching no longer highly coveted job in S Costco’s steep membership hike tests loyalty of Korean shoppers Lee Jae-myung leads in hypothetical three-way race with Han Duck-soo A view of the new presidential residence in Hannam-dong as final preparations are being made for President Yoon Suk-yeol and first lady Kim Keon-hee to move in National Seoul city OKs relocation plan of US embassy in Gwanghwamun to former USFK site A key administrative process to relocate the US embassy building in Seoul was approved by city officials Thursday opening the door for the beginning of the construction project that will close the embassy's half-century-old presence in the heart of the South Korean capital The Seoul metropolitan government's city planning and construction committee approved the district units plan of the US embassy's new site in Yongsan-dong of Seoul's central Yongsan Ward The current embassy building is located in the Gwanghwamun area a major business district in central Seoul used to be part of the Yongsan Garrison operated by US Forces Korea The site is owned by the US government under a former deal between the two countries South Korea and the United States agreed in principle in 2005 to move the current US embassy building The city government and the embassy have been in talks over the site's district units plan of the project Actual construction at the site is expected to begin in around two years after follow-up administrative procedures including the approval of the building construction As unused homes increase in rural South Korea Supreme Court’s verdict sours Lee Jae-myung’s presidential bid Korean mothers are opting for C-sections at record rates South Koreans get creative with Parents’ Day gifts Cover Korean singer IU has reportedly splashed out for a penthouse flat in the Cheongdam-dong neighbourhood within the Gangnam district (Image: IU/@dlwlrma) Korean singer IU has reportedly splashed out for a penthouse flat in the Cheongdam-dong neighbourhood within the Gangnam district (Image: IU/@dlwlrma) In South Korea, owning a property—especially in a highly sought-after area in Seoul the country’s bustling capital—is an indication of your material success in life The South Korean metropolis is made up of 25 districts which have a suffix of -gu; each district is further subdivided into neighbourhoods which often have a suffix of -dong as an indication.  While each district and neighbourhood boasts its individual charm and history, some are more highly regarded than others. These prestigious neighbourhoods are where the rich—including popular Korean celebrities—flock to If you’re seeking to make an investment in the country’s most exclusive areas or simply desiring to find out where you can perhaps spot your favourite stars we’ve rounded up some of the most prosperous neighbourhoods to know Don't miss: 10 Korean Celebrities Who Own Million-Dollar Buildings and Businesses Nicknamed the Beverly Hills of South Korea Seoul’s Gangnam district gained even more recognition after Korean singer Psy’s international hit Gangnam Style was released in 2012 The Cheongdam-dong neighbourhood is a particularly affluent area that’s home to a number of celebrities and tycoons Boasting some of the most expensive real estate in the country the upscale neighbourhood also features a stretch of luxury fashion boutiques Celebrities such as K-pop soloist and actress IU reportedly spent US$11.7 million for a penthouse flat in the neighbourhood Cheongdam-dong is also home to the headquarters of multiple K-pop management companies including SM Entertainment and Cube Entertainment Located right next to the Cheongdam-dong neighbourhood the Apgujeong-dong area is equally notable One of the wealthiest neighbourhoods in South Korea the area is known for its upmarket residences; it's also peppered with luxury departmental stores such as the flagship Galleria Department Store as well as prestigious educational institutes where many Korean celebrities are alumni Photo 1 of 2 Korean boy band BTS is known to live in a shared apartment together in Hannam The Hill (Image: HYBE Labels)Photo 2 of 2 The music video of their lead single Life Goes On was filmed in their dorm in Hannam The Hill (Image: HYBE Labels) Korean boy band BTS is known to live in a shared apartment together in Hannam The Hill (Image: HYBE Labels) Across the river from the Gangnam district lies the Yongsan district which features one of the most well-known neighbourhoods of Seoul: Hannam-dong With its prime location in the heart of Seoul and its scenic views of the famous Han River many of South Korea’s rich and famous often flock to this elite neighbourhood The area has steadily grown in popularity since the 2010s and now features a bevy of museums as well as trendy bars and restaurants The Hannam-dong neighbourhood is host to a trio of the city’s most famous and notable apartment buildings: the UN Village where celebrities such as Blackpink’s Jennie and actress Song Hye-kyo reside in; Nine One Hannam where Big Bang’s G-Dragon purchased a US$7.3 million luxury penthouse apartment; as well as Hannam the Hill home to stars like BTS and EXO and known as the most expensive apartment building in South Korea the Seongbuk-dong neighbourhood is nestled in the foothills of the mountains overlooking the city including hanoks—traditional Korean houses.  Once the home to royals during the Joseon dynasty the neighbourhood has retained its prestigious air The homes of many politicians and leaders of Korea's conglomerates as well as ambassadorial residences are located in the area Seongbuk-dong is also one of the principle shooting locations for Oscar-winning film Parasite—the Parks’ lavish abode in the movie was set within the neighbourhood.  Located in the Seocho district in the greater Gangnam area Banpo-dong is otherwise known as the ‘city of apartments’ for its cluster of luxury villas and residential buildings High-rise apartments such as the Banpo-Riche complex or the Banpo-Xi building are situated within the neighbourhood Banpo-dong is also where Korea’s famous French town The affluent French enclave is currently home to roughly 40 per cent of the French community in South Korea.  9 Korean Stars And Their Multimillion Homes 5 Hottest Property Trends to Watch in 2022 Could This Become One of the Most Expensive Homes in the World? who is still staying at his official residence in Hannam-dong is expected to leave his official residence on the 11th and move to his private residence in Seocho-dong some of the moving of former President Yoon and his wife were moved to Acrobista a residential-commercial apartment in Seocho-dong former President Yoon and his wife are expected to leave their official residence on the 11th a week after the Constitutional Court's decision to dismiss him former President Yoon and his wife were expected to leave their Hannam-dong residence over the weekend but it takes some more time to prepare for moving and security The Presidential Security Service is reportedly planning a security plan after leaving the residence especially considering that former President Yoon's residence is in the form of a residential-commercial apartment and that he has to raise more than 10 pets considering that former President Yoon's security will increase the inconvenience of residents it is reported that the plan is considered to move to a private residence first and then move back to a third place where they can finally stay There is no stipulated provision that the president must vacate his official residence until when he is impeached In the case of former President Park Geun Hye he left Cheong Wa Dae and moved to his Samseong-dong residence 56 hours after the Constitutional Court's decision former President Yoon lived at his home in Seocho-dong until November of the same year waiting for the Hannam-dong residence to be prepared according to the relocation of the presidential office As he has already lived and commuted in Acrobista for six months basic security and security plans are expected to have already been established it is known that the house in Seocho-dong has not been managed separately since he began living in his official residence in Hannam-dong analysts say it is taking longer to leave the official residence than former President Park Police have restricted rallies that former President Yoon's supporters and progressive civic groups have reported to hold in the Acrobista area for a month this month Former President Yoon is facing criminal trial on charges of rebellion and the rally near the Seoul Central District Court could affect the trial the police plan to issue a notice of assembly restrictions for the same reason if they report a rally near Acrobista Korea’s first alternative trading system launches Kakao Mobility’s second-largest shareholder considers stake .. 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LG CNS partners with KAIST to train AI transformation expert.. item.tmx : Math.floor(item.tmn)+'/'+Math.floor(item.tmx)) +'℃ Samsung’s Bespoke AI Combo hits 100,000 sales milestone LG Energy Solution seeks global talent in U.S. LG Electronics rolls out tumbler washer MyCup LG Elec installs LED scoreboard at Boston Red Sox stadium HD Hyundai Heavy holds ceremony for Philippine patrol ship LG unveils 2025 OLED Evo TV Samsung unveils gaming monitor with glasses-free 3D technology KITA Chief meets Texas Governor to discuss semiconductor subsidies KB Kookmin Bank, KCS to enhance forex monitoring system LG Electronics’ AI Washtower optimizes laundry in 3 seconds Hanmi Global, a construction project management company, will be in charge of the construction of the Han River Mansion Apartment Reconstruction Project in Ichon-dong, Yongsan-gu, which is considered a major reconstruction company along the Han River in Gangbuk, Seoul. Korea-U.S. Global announced on the 17th that it has been selected as a preferred bidder through the Han River Mansion. The Han River Mansion is expected to begin moving in September when it completes the process of changing the maintenance plan, which is currently in the final stage. Due to the reconstruction process, demolition, construction, and sales will be carried out after the relocation. ※ This service is provided by machine translation tool, NAVER papago. # The 237㎡ dedicated to "Yongsan Central Park" in Hangangro 3-ga, Yongsan-gu, Seoul, signed a lease contract at the end of March for 300 million won in deposit and 25 million won in monthly rent. A 168㎡ dedicated to "Raemian Firstage" in Banpo-dong, Seocho-gu, was also traded earlier this month for a deposit of 100 million won and a monthly rent of 10.3 million won. In the aftermath of loan regulations and the spread of fraud, monthly rent prices for apartments in Seoul are soaring every day amid accelerated monthly rent of jeonse. The rise in monthly rent prices, which was concentrated in high-priced housing areas such as Gangnam 3 districts (Gangnam, Seocho, and Songpa), is spreading to other areas. According to the actual transaction price data of the Ministry of Land, Infrastructure and Transport on the 22nd, 297 transactions were contracted for more than 5 million won per month in Seoul until March this year. In other words, nearly 100 contracts were made every month. By autonomous district, Seocho-gu had the highest number of cases with 97. It was followed by 95 cases in Gangnam-gu, 43 cases in Yongsan-gu, 23 cases in Seongdong-gu, and 16 cases in Songpa-gu. It was followed by six cases in Gwangjin-gu, five in Mapo-gu and Yeongdeungpo-gu, two in Jung-gu, and one in Gangdong-gu, Dongdaemun-gu, Seodaemun-gu, Yangcheon-gu, and Jongno-gu. The highest monthly rent was 200㎡ contracted for Acro Seoul Forest in Seongsu-dong, Seongdong-gu last month, and the monthly rent reached a whopping 30 million won (500 million won in deposit). The ratio of high monthly rent transactions in Seoul is also increasing. Of the 241,192 monthly rent contracts for apartments in Seoul last year, 101,210 (41.9%) were monthly rent contracts, of which 1,416 (1.4%) were expensive monthly rent of more than 5 million won. Compared to the high monthly rent ratio of only 0.37 percent in 2020, the number of high monthly rent contracts increased 6.1 times in five years. Industry experts point to steady demand for real-residential-oriented rentals and the government's tightening of loan regulations as the reason for the rise in monthly rent prices of apartments in Seoul. In addition, it is also believed that there are many high-income consumers who pay high interest costs for lease on a deposit basis loans and seek better settlement conditions by covering the costs with monthly rent rather than living on a lease on a deposit basis. Meanwhile, according to the Korea Real Estate Agency's national housing price trend data, the average monthly rent of apartments in Seoul recorded 1,352,000 won last month. The figure is up about 240,000 won from the same month in 2020 (1.115,000 won). The average monthly rent in Gangnam-gu, where high monthly rent contracts are frequent, was 2.549 million won last month, 2.26 million won in Yongsan-gu, and 2.157 million won in Seocho-gu. "In Hannam-dong, you can enjoy four different commercial districts at once. With traditional and emerging rich villages behind it, a unique cultural space has been created that goes beyond just shopping." Specialist Kim Yoon-hee said, "We should consider buildings with high-quality tenants with high customer prices and buildings that can be rented by Cannes due to the wide front," adding, "However, the rental yield is not high below 3%, and we usually buy them in anticipation of capital gains." However, it should be noted that most of them are mainly housing, so it can be more than two houses if acquired. This is because acquisition tax is heavy. Complex cultural spaces beyond shopping also attracted attention. Gallery Cafe Mokdan House and Urban Resort SoundHannam. The Mokdan House is a brick building built by a master lacquer dress artist himself. A colorful lacquer, mother-of-pearl, tile exhibition hall and brunch cafe are in operation. Specialist Kim said, "It is a cultural space that goes beyond simple commercial districts and makes visitors stay for a long time." The streets behind the two rich villages, Hannam-daero 20-gil, were also mainly small restaurants with high customer prices. Few, novels Hannam, Tartin, Osteria Orzo, Hanwadam, etc. On the other hand, Hannam Ogeori (Daesanggwan-ro), which you can find when you cross a crosswalk, was a business district centered on old shops such as Naju houses and Jeju restaurants. However, Hannam District 3, the largest among Hannam New Towns, is located right behind it. It is an area where a large part of the migration was carried out last year with the approval of the management and disposal plan. "In the long run, the Hannam Ogeori area can serve as a base commercial district," expert Kim said. Asked about Hannam New Town, he said, "We need to look at the speed of the project," adding, "It is almost impossible to transfer the membership status until completion after the management disposal plan is approved. We have to see if it is a sale that can be liquidated in cash." Hannam 4th and 5th districts are still in the early and mid-stage of the project. Last year, the most expensive residential facility in Seoul was a high-end apartment in the Gangbuk area. It is analyzed that superrich are investing in high-end apartments where asset values are steadily rising without being affected by the real estate market. According to an analysis of the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system on the 5th, 268A㎡ dedicated to "Scholar Park Hannam" in Hannam-dong, Yongsan-gu, Seoul, welcomed a new landlord for 18 billion won in August last year. This is the best case of last year's high-priced transaction. As a result, Scholarship Parque Hannam has become the most expensive complex in Seoul for three consecutive years since 2021. Scholarship Parc Hannam was changed for 12 billion won in December 2021 and 268A㎡ for 13.5 billion won in April 2022. Scholarship Parque Hannam is a small apartment complex with a total of 17 households completed in June 2020 by Scholarship Construction. It consists only of a large acreage of 281 to 325㎡ dedicated. It is known that celebrities and entrepreneurs live mainly because it is easy to protect privacy and allows a permanent view of the Han River to the Han River. The second place was 240㎡ dedicated to "Hannam The Hill" in Hannam-dong, Yongsan-gu, which was sold for 11 billion won in March last year. In third place, 200㎡ dedicated to Raemian One Bailey in Banpo-dong, Seocho-gu was signed for 10 billion won in January last year. A luxury apartment in Yongsan-gu, Seoul, which singer Park Hyo-shin reported to move in, was auctioned off for 7.9 billion won. According to Jiji Auction, a company specializing in light and auction data on the 12th, a compulsory auction for 240㎡ (72.7 pyeong) of Hannam The Hill in Hannam-dong, Yongsan-gu, Seoul, will be held at the Seoul Western District Court on the 23rd. The appraised value is 7.89 billion won. Forced auctions are the seizure of the debtor's real estate by the court and the sale of it for auction, which begins when the debtor fails to repay the loan by the repayment date. The auction comes after one of its creditors, Bion Inc., applied for an auction in April 2022 after receiving a loan payment order from the court. According to the confirmation of the moving-in household, Park Hyo-shin is presumed to have lived in an apartment owned by the agency, given that Park Hyo-shin moved into the apartment in 2021 and that former agency Glove Entertainment owns the apartment. However, it has not been confirmed whether Park Hyo-shin actually resides or not. If a forced auction is held and sold, the amount of the sale will be taken by creditors according to the order of real estate registration. Bion's claim is 568.94 million won. FNC Investment, an investment company under FNC Entertainment, has also set a collateral security of 6.5 billion won. Park Hyo-shin signed an exclusive contract with Glove Entertainment, a new agency, in 2016, but later argued that he "didn't receive music revenue and exclusive down payment for three years." In 2022, he set up his own agency, Herbugharo. The Jungsan Demonstration Apartment in Ichon-dong, western Yongsan-gu, Seoul, which was built in 1970 and has been located along the Han River for 54 years, is one step closer to reconstruction. On the 25th, the Yongsan-gu Office announced that it will conduct an appraisal to sell about 4,696 square meters of municipal land for the Jungsan Demonstration Apartment. The complex was built in 1970 by the Seoul Metropolitan Government for the middle class and was built as a small 39-59㎡ apartment dedicated to it. That's why the name was named "Jongsan." The land is also a house owned by the Seoul Metropolitan Government and sold only buildings. In other words, it is the predecessor of the so-called "half-price apartment" (land rental housing) that has been built in earnest since last year. However, this type of housing served as a negative factor for reconstruction. The complex has been so old that it has received a disaster risk D grade since 1996. However, the reconstruction did not proceed after more than 30 years due to structural limitations in which land and building owners were separated. This is because under the current law, building owners must secure land ownership in order to carry out reconstruction projects. Eventually, residents began to purchase municipal land, but it took considerable time to obtain consent rates. Only in 2021, the committee submitted a purchase application to Yongsan-gu to establish a reconstruction association for the Jungsan Demonstration Apartment, opening the business. In 2022, the Seoul Metropolitan Government's Public Property Council conditionally decided to sell six parcels of municipal land. Residents fulfilled conditions such as "paying five years of land use fees" last year. As of March this year, 94.3% of building owners applied for purchase. Yongsan-gu explained that the land appraisal will be conducted as the next procedure. Based on land prices calculated by multiple appraisal agencies, it will be reviewed again by the Seoul Metropolitan Government's Public Property Council. If the final sale price is confirmed here, residents will be able to sign a land sale contract. After the land ownership is transferred to the residents, the reconstruction project is expected to begin in earnest. Park Hee-young, head of Yongsan-gu District Office, said, "In the meantime, the reconstruction has been delayed due to land ownership problems, causing water leaks and falling ceilings," adding, "We will support high-density development by raising the use area in the future." In addition, such changes in the Jungsan Demonstration Apartment are expected to have a positive impact on the redevelopment of Ichon District 1 nearby. Ichon District 1 is an area with a high need for redevelopment due to its serious aging. However, it is an obstacle that one apartment building belonging to the district is located in the city land just like the one in the middle of the mountain. However, an official from Yongsan-gu District said, "Jongsan Demonstration Apartment and Ichon 1 were experiencing a similar problem of selling municipal land," adding, "As it is close, we expect that the appraisal of Jungsan Demonstration Apartment will have a positive impact on Ichon 1." Singer Jang Yoon-jung and broadcaster Do Kyung-wan reportedly sold Na In-one Hannam and purchased a penthouse with views of the Han River and Yongsan Park. According to the industry on the 21st, Jang Yoon-jung and Do Kyung-wan bought the Aperhan River penthouse in Seobinggo-dong, Yongsan-gu, Seoul in full cash on the register. Jang Yoon-jung is co-named with three-fifths and Do Kyung-wan with two-fifths. The penthouse is a two-story structure with an area dedicated to the upper and lower floors of 273.98㎡ (82 pyeong). The sale price is about 12 billion won, and the transfer of ownership was completed in April. Earlier in March 2021, Jang Yoon-jung and Do Kyung-wan had been living in a joint sale of 244㎡ exclusively for Na In-one Hannam for 5 billion won, and in April this year, they sold it for 12 billion won, the highest price in the equilibrium zone, and earned a market profit of 7 billion won for the first time in more than three years. This is the highest price among the apartment transactions registered this year, exceeding the actual transaction price of KRW 11.5 billion for the 7th round of Old Hyundai in Apgujeong-dong, Gangnam-gu, in the previous month. Aperhan River is a high-end residential complex consisting of 5 basement floors, 10 ground floors, 1 building, 205-273 square meters for exclusive use, and 26 households in Seobinggo-dong, Yongsan-gu, Seoul. It consists of three lines, and only three households were supplied, one for each line. It is located between the Han River and Yongsan Park, so you can see the view at the same time, and in the case of the penthouse type, you can even see Namsan Tower. In particular, architect Yoo Hyun-joon, professor of architecture at Hongik University, who was popular in the entertainment program "Useless God Job," took charge of the construction of the Aperhan River and designed it with the concept of the Athens Acropolis. Depending on the taste of the residents, the terrace can be designed as a home cafe, private garden, or mini camping site. Residents of the Aperhan River include idol group BTS (BTS), J-Hope, actors Gong Yoo, Kim Go-eun, Han Hyo-joo, Su-ae, Ryu Deok-hwan and Jeon Soo-rin, and soccer player Kim Ki-hee. J-Hope also received the same penthouse as Jang Yoon-jung and Do Kyung-wan. The sale price of the Aperhan River for general households is 6 billion won, and the sale price for general households is about 9 billion won to 10 billion won. Except for Ryu Deok-hwan and Jeon Sur-rin, all of them are known to have bought in full cash on the certified copy of the register. “But even the traditional restaurants are improving—using better ingredients and better preparations.” To do Seoul right travelers need to balance glorious classics like Daegu-style short ribs and crispy mung bean pancakes with newer zanier concoctions (whipped cream and beer Instagram everything and don’t forget the emojis—in this Wi-Fi–crazy place they’re the ultimate compliments to the chef you want the pork neck—snipped up tableside and dipped in pink Himalayan salt to finish which is folded in sheets of seaweed with spicy herring roe ssamjang JungsikBoth local and overseas media have dubbed chef Jung-sik Yim the king of new Korean cuisine Everything from the biblically thick wine list to the formal-but-not-fussy service to the plating of delicate dishes like pork belly with pickled gomchwi is exacting Coursed tastings are the way to go and reservations are encouraged Jun Michael ParkThe BeastroDespite its location in hip Hongdae a neighborhood crawling with university students this three-story eatery feels all grown up The kitchen focuses on new American standards like fried chicken and biscuits with hot honey and bagna cauda but it isn’t afraid to get wild (see the pork fat–roasted chicken gizzard sandwich with kale slaw) Jun Michael ParkHansik OlbaanForget everything you know about buffets; this isn’t that kind of place who are notoriously skeptical about paying for food they can make at home are flocking to this smorgasbord for its seasonal ingredients there’s no better overview of Korean cuisine than this OKitchen 3Yonaguni Susumu is a Japanese chef who trained in French restaurants in England and New York and now cranks out smart-casual Italian (Got all that?) His kitchen is run by students from his cooking school and dishes have a savvy local influence (e.g. linguine with grilled mackerel and perilla-leaf pesto) Jun Michael ParkSanchez MakgeolliWant a wild night out Grab a corner table in this dimly lit basement spot decorated with glowing Santa ornaments; drink pine-nut makgeolli (think Korean sake) late into the night Soak it up with potato pancakes with fried eggs and cheese dust This once-seedy neighborhood—long popular with American expats—is now a funky food destination Jun Michael ParkVatos Urban TacosThe trio behind this kitschy Mexican haunt is credited with kick-starting the Itaewon revival Jun Michael ParkLinus’ Bama Style BarbecueBoy from Birmingham brings real-deal Southern barbecue (juicy pulled pork Jun Michael ParkMagpie Brewing Co.Chatty bartenders pull crowd-pleasing beers like The Ghost Southside ParlorSerious cocktails meet Tex-Mex at this mellow cantina The smoked queso and chicken tacos are essential Casablanca SandwicherieSpicy lamb and potato fritter Dagwood Jun Michael ParkThe BoothGraffitied walls VolsteadMore cocktails and more deliriously good tacos Nobody burns through food fads like trendy Seoulites an abridged list of recent absurd-but-weirdly-tempting dining gimmicks: there are places where drinking coffee with live cats Honeycomb Ice CreamSoft-serve vanilla with a nugget of chewy honeycomb on top Wildly popular until it was discovered that some chains were selling fake combs Jun Michael Park5. ChurrosWhen Instagram revealed its Food Capitals list earlier this year, it turned out more #churros hashtags were in Seoul than Valencia, Spain. Get ’em hot at Churro 101 (#crunchy) At the height of their K-Pop celebrity endorsement a bag of Haitai’s honey butter chips was selling on eBay for more than $50 Honey Butter ChipsThese impossible-to-find honey-flavored buttery potato chips led to a nationwide craze Artificial scarcity or greatest snack ever invented and pomegranate styles are sweet and mild but still do the job in a soju bomb Jun Michael Park8. Brown Rice Ice CreamFor a sweet finish to any meal, nothing beats the soft-serve at Sobok: a swirl of brown rice ice cream topped with dried persimmon The five time-honored foods every first-time visitor should seek out (and the best spots for digging into them) Jun Michael ParkGalmaegisalPork sizzled over charcoal with a ring of egg around it The resulting “omelet” is the star.Eat at: Mapo Jeong Daepo (183-8 Dohwa-dong Jun Michael ParkBindaetteokAt food markets, you’ll find ladies frying up mung bean pancakes as thick as books.Eat at: Gwangjang Market (88 Changgyeonggung-ro Jun Michael ParkGalbijjimBeef short ribs braised into fiery Goes well with saucer-size pork pancakes.Eat at: Dongin-dong (511-5 Sinsa-dong Jun Michael ParkNaengmyeonBuckwheat noodles jumbled in a bowl of chilled beef broth with brisket and radish.Eat at: Eulji Myun Oak (177-1 Yipjung-dong Jun Michael ParkYukhoeBeef tartare seasoned with sesame oil and sugar and served with raw egg and pear for dipping.Eat at: Jamaejib (14 Eonju-ro 115-gil Three edible ways to atone for all the fried chicken TeahouseExperiment with unusual flavors like date plum and wild pine mushroom at Cha Masineun Tteul Menu descriptions tout each elixir’s healing properties; an order of the steamed pumpkin rice cake cures everything else TtukseomThis sleepy residential neighborhood is home to Seoul Forest (think mini Central Park) and Sobang Life a coolly minimalist eatery offering just two set menus per day—one with meat and one without—and don't miss the crunchy breaking the record for the highest sale price ever for an apartment house Infrastructure and Transport's actual transaction price disclosure system on the 1st an apartment on the first floor of Na In-one Hannam with a dedicated area of 273.94㎡ was traded for 20 billion won on the 4th of last month This transaction price is the highest sale price in the history of apartment houses (apartments and coalition houses) since the actual transaction price began to be disclosed in 2006 a first-floor apartment with a dedicated area of 273.41㎡ in the same complex was traded for 8.4 billion won and the price of the apartment jumped 2.38 times over the course of about three years which previously recorded the highest sale price was the "Traum House 5th," a row house in Seocho-dong with a dedicated area of 273.64㎡ sold for 18.5 billion won in October 2021 the previous highest sale record was that the area of 268.67㎡ dedicated to Parch Hannam in Hannam-dong was traded for 18 billion won in August last year the record of 483.96㎡ officetel in "Lotte World Tower & Lotte World Mall" (Signiel Residence) in Sincheon-dong in November last year was changed to 24 billion won Na In-won Hannam is a low-rise complex with a total of 341 households that moved in in 2019 It is a luxury complex where famous celebrities and is known as the representative of high-end apartments The apartment also broke the record for the highest auction bid in the history of apartment houses last month One bidder participated alone in the auction for a 244㎡ apartment dedicated to Na In-one Hannam The apartment was sold at a successful bid price of 11.37 billion won and a sale price of 104.8% setting a record for the highest price in the history of an apartment auction All apartments in 3 Gangnam districts (Gangnam Songpa) and Yongsan-gu in Seoul will be designated as land transaction permits for the next 6 months Apartments in the region are virtually prohibited from so-called "gap investment" in buying houses on a lease Seoul Mayor Oh Se-hoon held a meeting with the Ministry of Land Infrastructure and Transport at the Seoul Government Complex on the 19th and announced plans to stabilize the housing market and Yongsan-gu as land transaction permits for six months from March 24 to September 30." and Cheongdam from the land transaction permit area last month the government has put a super strong "expanded designation" beyond the existing re-designation that was lifted in 35 days after housing prices soared around the three Gangnam districts In addition to the three Gangnam districts Mok-dong reconstruction complex in Yangcheon-gu and Seongsu-dong redevelopment areas in Seongdong-gu will be maintained until concerns over overheating of the market are completely resolved the land transaction permit area in Seoul has been expanded to 163.96 square kilometers which is 110.65 square kilometers wider than before About 2,200 complexes and 400,000 households are eligible Complexes along the Han River in Banpo-dong which were excluded from the regulation each time were also included in the regulation this time It is also the first time that land transaction permit zones have been designated in large numbers by district (區) rather than by specific maintenance project zones or dong units permission must be obtained from the head of the competent district office from the new sales contract which will be signed from the 24th of this month Gap investment is impossible due to the obligation to live for two years the government and the Seoul Metropolitan Government have decided to consider additional designation of nearby areas as land transaction permits if the market continues to overheat we will consider expanding and designating areas subject to adjustment and overheated speculation zones currently designated only in Gangnam-gu and Yongsan-gu." As the recent rise in housing prices has been detected to spread to Mapo and Gangdong-gu beyond Gangnam's three districts and Yongsan-gu he warned that the regulatory area could be further expanded which was traded at the highest price ever The main character is "Nine One Handsome," and it has been confirmed that the contract was signed at a price that more than doubled from the price three years ago According to data on the actual transaction price system of the Ministry of Land 273.94 square meters (1st floor) exclusively for Nainon Hannam in Yongsan-gu Buyers and sellers were found to be through intermediary transactions as individuals the same 273.41㎡ was traded at 8.4 billion won and the price has far more than doubled in three years and joint houses) since the actual transaction price began to be disclosed in 2006 The apartment house that previously recorded the highest sale price was "Traum House 5th" the house was changed to KRW 18.5 billion for a dedicated 273.64㎡ 268.67 square meters dedicated to Park Han-nam in Hannam-dong were sold for 18 billion won in August last year it failed to break the record of 483.96㎡ (68th floor) dedicated to "Lotte World Tower & Lotte World Mall" (Signiel Residence) sold for 24 billion won in November last year at an auction held at the Seoul Western District Court last month Nainon Hannam recorded the highest winning price ever for apartment houses or 104.8% of the appraised value of KRW 10.85 billion The apartment is a low-rise complex with a total of 341 households that moved in in 2019 and was supplied under the condition of conversion to the sale after renting to avoid the upper limit on the sale price in 2018 the rental deposit alone reached 3.3 billion won to 4.8 billion won (700,000 won to 2.5 million won per month) the conversion sale price averaged 61 million won per 3.3㎡ The official price of 244.72 square meters of Nine-In-One Hannam is 10.67 billion won ranking third in the official price of apartment houses as of January 1 this year The first place is the 407.71㎡ Cheongdam of The Penthouse in Gangnam-gu Other areas of Seoul are also experiencing high price transactions The 159㎡ dedicated to Acro Seoul Forest in Seongsu-dong was traded at 8.85 billion won on the 10th of last month and the 210㎡ dedicated to the 8th Hanyang in Apgujeong-dong was traded at 8.35 billion won in the same month 133㎡ dedicated to Raemian One Bailey in Banpo-dong 244㎡ dedicated to Banpo Xi was traded at 7.36 billion won and 157㎡ dedicated to the 6th and 7th old Hyundai in Apgujeong-dong was traded at 6 billion won The 84.99㎡ dedicated to Rescent in Jamsil-dong sold for 2.48 billion won on the 1st of this month As apartment prices in Seoul have recently risen high-priced apartment complexes have recently been traded and the average transaction amount per apartment in Seoul reached an all-time high in May According to the data from Seoul Real Estate Information Plaza the average transaction amount per apartment in Seoul in May was 1,192.8 million won It is the first time in more than two years that the previous record (KRW 1,157.78 million in April 2022) has been broken This is the highest rate since October 2022 The transaction of ultra-high-priced apartments is also on the rise The transaction ratio of ultra-high-priced apartments worth 1.5 billion won (the Ministry of Land Infrastructure and Transport's actual transaction price system) increased 1.6 percentage points from 17.8% last year to 19.4% this year (January-June) "The increase in high-priced apartment transactions is the result of deepening polarization of wealth and asset market polarization." "Considering that the volume of broad currency (M2) this year exceeds KRW 4,000 trillion for the first time in history it seems that the market is still full of money and the demand for better housing is alive after the COVID-19 pandemic," but added "We should regard such ultra-high-priced housing as separate from the overall market atmosphere." Look out for your first newsletter in your inbox soon The best of Time Out straight to your inbox We help you navigate a myriad of possibilities Sign up for our newsletter for the best of the city By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news Sign up for our email to enjoy your city without spending a thing (as well as some options when you’re feeling flush) Our newsletter hand-delivers the best bits to your inbox Sign up to unlock our digital magazines and also receive the latest news By entering your email address you agree to our Terms of Use and Privacy Policy and consent to receive emails from Time Out about news, events, offers and partner promotions. Seoul the unlikely location of Haebangchon traditional market which covers parts of Yongsan-dong 2ga and the mountainous neighborhood of Huam-dong is considered one of the hip spots of the city right now While it is known to the savviest of Seoul as a quieter alternative of the now-touristy Gyeongnidan-gil is ingrained with stories of diaspora written by those who moved from the North in the wake of the country’s independence The very top of the neighborhood where buses run on barely paved roads while a cluster of small mom-and-pop shops small hair salons and barber shops still exude a nostalgic vibe is the birthplace of Seoul’s latest artists’ village with the Seoul Metropolitan Government’s plan to bring in new venues of art and young entrepreneurs to occupy the formerly empty storefronts While the Korean TV star Noh Hong-chul’s book store opened up here in mid-2016 has certainly garnered the mainstream attention many of those who’ve been residing in or frequenting the area know that the contributory remark should go to Orang Orang which opened its door in early 2016 the first thing he/she’d notice upon stepping inside the café is the vintage Probat roaster (there once was a time in Seoul during which vintage roasters were a trend led by specialty shops such as Second Coffee and Siphon) the café’s chosen La Marzocco Linea (which is also used at Hannam-dong’s Bonanza Coffee) and the basic form of Kalita—which is the most appropriate when extracting coffee reminiscent of old-day kissaten Japanese-style  tearooms—for manual drip-brewing extraction (while ‘pour over’ is now a popular term in North America and Europe ‘brewing’ is widely used in Korea to mean any kind of non-automatic extraction) Orang Orang’s cappuccino is a dry form with extra foam (frothed milk) brimming over the mug A dash of chocolate powder that goes on top prevents the formation of any off-flavor (which is often possible due to the protein in the milk) Showing the typical characteristic of milk-induced coffee espresso and steamed milk creates a tight balance The first thing I noticed that the temperature was not too high allowing the fragrances of the coffee stand out It was obvious that acidity was minimized in the process while the pleasantly-bitter umami flavor favored by the Japanese kissaten master baristas was highlighted the most notable element offered at Orang Orang is the space: the second floor complete with vintage chairs and tables is quite cozy and the rooftop on the third floor providing a panoramic view of Namsan would be perfect for a party in the spring and summer months it’s got an organic vibe while reflecting the unique ambiance of Haebangchon and Namsal hill (walking up and down the sets of steep steps leading to the rooftop is quite an adventure Sipping the coffees created by the skilled baristas (including Ahn Seong-hyeon who had worked at Anthracite for a long time during his career) I thought of how the area came to be transformed from ‘desolate’ to so apparently ‘vibrant.’ While there are more new venues filling in the still-quaint scenery Orang Orang is undoubtedly a gem of the town—and it would be such a shame to lose this café amidst the flow of gentrification * Author JB is a freelance coffee and travel writer as well as a Q-grader credentialed by the Specialty Coffee Association of America (SCAA) Thanks for subscribing! 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About us Contact us which was jointly sold by trot singer Jang Yoon-jung and announcer Do Kyung-wan According to the real estate industry and Chosun Biz on the 2nd the area of 244m2 (4th floor) dedicated to "Na In-one Hannam" in Hannam-dong was traded for 12 billion won on the 11th of last month The highest price in the same area is the deal Jang bought the apartment for 5 billion won in March 2021 Jang and his wife made a market profit of 7 billion won in three years and two months with the deal The transaction just before this type was 9 billion won in December 2021 which means that 3 billion won jumped in two years and four months In order to avoid the upper limit on the sale price in 2018 Na In-won Hannam was supplied as a condition of conversion to sales after rental the rental deposit alone amounted to 3.3 billion won to 4.8 billion won the sale was converted to an average of 61 million won per 3.3 square meters This apartment has also become a hot topic for celebrities to live in and actor Lee Jong-seok are known to reside ETLAND) will soon have something else in common besides their professions Their sons will start playing basketball on the same junior high school team later this year will both attend Yongsan Junior High School and will play basketball together who will graduate from their elementary schools next month joined Yongsan’s basketball team at the end of last year and attended the school’s training camp this week Ung started playing basketball as a hobby when he was staying in the U.S He inherited his father’s reflexes and is improving his techniques day by day his coaches think his shooting and penetration abilities are superb and he has more experience since he started playing basketball in the second grade He was named team MVP after leading his team to a championship with a scoring average of almost 30 points per game in two of last year’s national competitions The sons of the former basketball stars say that they feel the pressure of the family trees they fell from but that they are still determined to become number one The most expensive apartment house in the country this year was "The Penthouse Cheongdam" in Cheongdam-dong According to the 2024 apartment price data released by the Ministry of Land the apartment with the highest official price among 15.23 million apartment houses nationwide was confirmed to be 407.71㎡ dedicated to The Penthouse Cheongdam the official price recorded 16.4 billion won The penthouse Cheongdam is a high-end apartment with 29 households in one building completed in 2020 As the official price was calculated in 2021 (16.32 billion won) it became the most expensive apartment house in the country for the fourth consecutive year The apartment is known to be home to a number of celebrities including actor Jang Dong-gun and Ko So-young couple golfer Park In-bee and megastudy instructor Hyun Woo-jin The second place is Etherno Cheongdam in Cheongdam-dong The official price of 464.11㎡ is 12.86 billion won The apartment was also a hot topic as singer IU and actor Song Joong-ki reportedly received sales for 13 billion won and 15 billion won The third place is 'Nawon Hannam' in Hannam-dong The exclusive area of 244.72㎡ recorded an official price of 10.67 billion won The apartment is known to be owned by members RM and Jimin of the idol group BTS Fourth place is 244.75㎡ of exclusive area for "Hannam The Hill" in Hannam-dong with an official price of 9.892 billion won In fifth place is 273.93 square meters (9.08 billion won) for the exclusive area of "Acro Seoul Forest" in Seongsu-dong 1-ga and in sixth place is 268.95 square meters (8.946 billion won) for the exclusive area of "Parckhannam" in Hannam-dong The 7th place was 271.83 square meters (KRW 7.769 billion) for "Galleria Fore" in Seongsu-dong 1-ga the 8th place was 273.64 square meters (KRW 7.711 billion) for "Traum House 5th" in Seocho-dong the 9th place was 234.8 square meters (KRW 7.49 billion) for "Acro River Park" in Banpo-dong and the 10th place was 269.41 square meters (KRW 7.151 billion) for "I-Park" in Samseong-dong was the only apartment in the non-metropolitan area to be listed in the top 10 official prices but this year it was pushed out of the rankings apartments in Seoul will occupy all of the top 10 official prices and two Seongdong-gu by autonomous district Upvote if you think more people should see this post Business insiders have reported on April 4 KST that BTS's Jungkook is building a massive, luxury home in Yongsan-gu, Itaewon-dong, one of the richest neighborhoods in all of South Korea. Jungkook previously purchased a detached, urban home in this neighborhood in 2020 for 7.6 billion KRW (~ $6 million USD). In July of last year, the city of Yongsan approved a construction permit for this property, and the existing home was soon demolished. Construction has begun for a new, detached luxury home with its total floor area at 1161.04㎡, total land area at 633.05㎡, and total building area at 348.05㎡. The home will consist of 2 below ground levels and 3 above ground levels, and its expected completion date is May 31, 2024.  Meanwhile, Yongsan-gu, Itaewon-dong is home to Choi Tae Won, chairman of SK Group; Lee Myung Hee, chairman of Shinsegae Group; Shin Dong Won, chairman of Nong Shim Group; Jung Eui Sun, chairman of Hyundai Motor Group, and more.  BLANK2Y's Siwoo announces his first acting project, to be absent from group activities temporarily Movie 'Oksu Station Ghost' starring N.Flying's Jaehyun and Kim Bo Ra announces premiere date I hope wherever he chooses to live, he'll be able to live in peace without psycho sasaengs disturbing him. This sounds more like a business deal where he will sell it when completed, unless maybe he plans on moving his family there. I just don't see him being that interested in living in that size house in a neighborhood with a bunch of CEO types. You'd need a staff to keep up a property like that, and I just don't think that sounds like him. K-Pop fans talk about entertainment labels all the time, but how familiar are you with what their headquarters actually look like? While some larger labels like the “Big Four” have incredibly impressive buildings, many smaller labels definitely have more humble office spaces. Here’s a look at the headquarters for 20+ K-Pop labels, recently shared on an online forum post. Location: Seoul, Seongdong-gu, Seongsu-dong Artists: TVXQ, Girls’ Generation, SHINee, EXO, Red Velvet, NCT, aespa, RIIZE, BoA Location: Seoul, Gangnam-gu, Seongnae-dong Artists: 2PM, TWICE, Stray Kids, ITZY, DAY6, Xdinary Heroes, NMIXX Artists: BLACKPINK, TREASURE, WINNER, BABYMONSTER, BIGBANG, SECHSKIES, AKMU Location: Seoul, Yongsan-gu, Hanggangro-dong Artists: BTS, TXT, ENHYPEN, LE SSERAFIM, NewJeans, SEVENTEEN, fromis_9, Zico, BOYNEXTDOOR Artists: BTOB, PENTAGON, (G)I-DLE, LIGHTSUM Artists: MAMAMOO, ONEUS, ONEWE, PURPLE KISS Location: Seoul, Gangnam-gu, Cheongdam-dong Artists: FTISLAND, AOA, CNBLUE, N.Flying, SF9, P1Harmony, Cherry Bullet Location: Seoul, Gangnam-gu, Nonhyeon-dong Artists: Golden Child, Rocket Punch, DRIPPIN, Kwon Eunbi Artists: UNIQ, EVERGLOW, TEMPEST, Choi Yena Artists: ASTRO, Weki Meki, LUN8, Ong Seongwu Former artists: B.A.P, Secret, SONAMOO, TRCNG Location: Seoul, Seongbuk-gu, Samseon-dong Artists: MONSTA X, Cosmic Girls/WJSN, CRAVITY, IVE, Wonho, K.Will