Singer Park Hyo Shin's luxury villa to be auctioned again... Appraisal price jumps from 7.9 billion won to 13.8 billion won

The luxury villa where singer Park Hyo Shin lived has once again been put up for auction. On the 11th, the Seoul Western District Court ruled that the villa was sold in May at the Hannam-dong, Yongsan-gu, Seoul.
The company accepted an auction case for the 240-square-meter (approximately 72 tsubo) real estate of "The Hill." It then made a decision to forcibly auction the property.
Park Hyo Shin has just completed the move-in registration for this luxury villa in 2021. In front of Park Hyo Shin, who owns the apartment
Management Office Glove Entertainment was unable to repay its debts and was sold at auction. The court can seize the debtor's real estate when the debtor is unable to repay loans by the due date.
The house was put up for forced auction for the second time. The villa's previous appraisal price was 7.89 billion won, about 7.9 billion won (about 840 million yen).
The appraisal value of the property was 13.8 billion won. The large increase in the appraisal value attracted attention. Prior to this, Park Hyo Shin was a member of Glove Entertainment in 2016.
However, he revealed that he had not been paid his music earnings for about three years out of the six years of his contract. After that, Park Hyo Shin established "Herbigharo" and continued his activities, and was a member of Glove Entertainment.
The entertainment company's creditor, BaEon Co., Ltd., received a court order to repay the loan, and the auction proceeded.
Villa up for auction after Glove Entertainment can't settle debts
This will be the second time the piece has been auctioned, so it is attracting a lot of attention.