SEOUL, December 17 (AJP) - Lee Myung-hee, chairwoman of South Korea’s Shinsegae Group, owns the country’s most expensive home for the 11th consecutive year, according to government property data released on Wednesday.
Lee’s residence in Hannam-dong, central Seoul, was valued at 31.35 billion won ($21 million), up 5.48 percent from a year earlier, data from the Ministry of Land, Infrastructure and Transport showed.
The valuation rose by 1.63 billion won from last year’s 29.72 billion won, marking the first time in four years that the property’s assessed value has exceeded 30 billion won.
The 2,862-square-meter home has held the top position since 2016.
The second most expensive residence is owned by Lee Hae-wook, chairman of construction and energy conglomerate DL Group. His home in Samsung-dong, Seoul’s Gangnam district, was valued at 20.3 billion won, up 5.67 percent from last year.
The rankings of the top 10 most expensive homes were unchanged from last year. Seven are located in Yongsan-gu, two in Gangnam-gu’s Samsung-dong and one in Seocho-gu’s Bangbae-dong.
In land valuations, the site occupied by cosmetics retailer Nature Republic in Myeong-dong, Jung-gu, retained its position as South Korea’s most expensive plot for the 23rd consecutive year. It was valued at 18.84 million won per square meter, up 4.38 percent.
The second most expensive site was the Woori Bank property in Myeong-dong, valued at 18.76 million won per square meter, a 4.58 percent increase.
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