Singer Psy is in the news after it was revealed that his previous house was seized due to overdue fines related to illegal building violations.
According to a report from BizHankook on November 25th, the villa in UN Village, where Psy once lived, was seized because he failed to pay a fine for not fixing an illegal building structure as ordered by authorities.
Although Psy paid the fine five months later, the house remained in violation because the changes to the property were never corrected. Interestingly, during the time his house was seized, Psy had already purchased a new home worth around 10 billion KRW.
Back in 2008, Psy and his wife bought a duplex in the luxury villa "The House" in UN Village for 2.2 billion KRW, along with an adjacent office for 370 million KRW. The couple lived there until 2020, when they moved to Park Hannam and began renting out their former property.
However, a complaint was filed about an unauthorized extension of the property. It turned out that a shared stairwell between the duplex and office was being used as a single residence. After an inspection, Yongsan District Office confirmed the complaint and ordered the couple to fix the issue.
Things got worse when it was found that they had illegally expanded the house by installing reinforced concrete, leading to violations of the Building Act. In May of this year, Yongsan District Office seized the property after Psy and his wife failed to pay the fines for over a year.
In addition to the fines, experts believe the couple may also have faced penalties for taxes on the property and could have been subject to a luxury home tax due to the size of their home.
Despite the ongoing issues, the couple paid the fine on October 28th, and the seizure was lifted after five months. However, the property remains an illegal building since the correction order was never followed.
While all this was happening, Psy went ahead and bought a new home. In July 2022, he purchased a unit in the luxury villa "Upper House Namsan" in Itaewon, Seoul, for about 10 billion KRW.
He completed the final payment in September 2022, officially transferring ownership. Interestingly, this luxury property was also purchased by some high-profile figures, including Seomin Jung, the daughter of Amorepacific Chairman Seo Kyung Bae, and actor Ha Jung Woo.
Source: [1]