Hook Purchases 15-Billion Won Building in Cheongdam-dong, Builds ‘Cheongdam Hook Town’

Just something interesting…

Hook Entertainment (Rep Kwon Jin Young) has purchased real estate that’s worth about 15 billion won in Cheongdam-dong, Seoul.

StarNews discovered on July 15 that Hook Entertainment has recently taken over a building (2 floors underground, 6 floors above ground, total floor area of 2380㎡) in Cheongdam-dong that was owned by a cosmetics company. It’s become known that Hook Entertainment plans to expand its office building from the Cheongdam-dong building purchased in 2004 to the new building.

This is Hook Entertainment’s 3rd real estate purchase in Cheongdam-dong. In 2011, it purchased a 5-floor building in Cheongdam-dong for about 10 billion won. The building was owned by Psy’s mother at that time. The current market value of the building is 14 billion won.

According to industry insiders, outside of entertainment management, Rep Kwon has also demonstrated amazing ability making money in real estate.

Just last year, Hook Entertainment made a profit of 11 billion won.

source: starnews via nate
English translation: tryp96.wordpress.com

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