The residence of singer Park Hyo-shin (42) reportedly was put up for forced auction

A luxury apartment in Hannam-dong, Seoul, known as the residence of singer Park Hyo-shin (42), was put up for forced auction.

According to GG Auction, a company specializing in auction and public auction data, on the 12th, a forced auction for the 240㎡ (72.7 pyeong) area 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.

This auction is the result of Bion Co., Ltd., one of the creditors, receiving an order from the court to pay the loan and requesting an auction in April 2022.

The apartment in question was where Park Hyo-shin reported moving in in 2021. Ownership was held by Park Hyo-shin‘s former agency, Glove Entertainment. Park Hyo-shin signed an exclusive contract with Glove Entertainment in 2016, but then there was a dispute, and in 2022, he established his own agency, Herbig Haro.

Accordingly, it is presumed that the apartment in question was at risk of forced auction as Park Hyo-shin’s former agency was unable to repay his rent due to the aftermath of the dispute. If a forced auction is held and the bid is successful, the sale amount is taken by creditors according to the order of real estate registration. Byon’s bill is 568.94 million won, and FNC Investment, an investment company under FNC Entertainment, also set up a mortgage of 6.5 billion won.

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