According to the Korea Economic Daily on the 12th, Shin Hye-sung purchased a building for 4.9 billion won in May 2022 and sold it for 5.55 billion won on the 29th of last month. On paper, this looks like a profit of about 650 million won.
However, industry insiders analyze that he likely suffered a loss because he invested significant costs into remodeling and expansion. The real estate industry estimates construction costs alone to be around 800 to 900 million won.
When adding acquisition taxes and interest on financial loans, the transaction is interpreted as being closer to a loss.
While it appears he made several hundred million won on the surface, analysis suggests it was effectively a “minus sale” when considering the actual profit structure.
Shin Hye-sung, who has been staying out of the public eye, was absent from Shinhwa member Lee Min-woo’s wedding held at a hotel in Jung-gu, Seoul, on March 29. Lee Min-woo tied the knot with Lee A-mi, a third-generation Korean-Japanese national.
All Shinhwa members except Shin Hye-sung attended the wedding, drawing attention. With the exception of the unmarried Kim Dong-wan, everyone attended with their wives.
Following this, Kim Dong-wan posted on his personal account, “Why do people keep trying to attach meaning to the choice of wanting to live quietly? It is that person’s life. They haven’t borrowed money, nor do they have an obligation to explain.” This post caught the public’s eye as it is speculated to be referring to Shin Hye-sung’s absence from Lee Min-woo’s wedding.
