TWICE's Nayeon Buys $6.9M Property in Seoul's Gangnam

K-pop group TWICE member Nayeon has reportedly purchased land and a building in Seoul's Cheongdam neighborhood for 9.5 billion won (about $6.9 million).

Chosun Biz reported the purchase on Aug. 28, citing property records and real estate industry sources. According to the report, Nayeon signed the sales contract on May 3 and completed the ownership transfer registration on Aug. 24. A mortgage lien with a maximum secured claim of 10.2 billion won (about $7.4 million) is registered against the property.

The building has one basement level and two floors above ground, with a total floor area of 218.87 square meters. The older structure underwent an expansion in 2010. Its lot occupies a corner where two roads meet.

The property was previously registered for a mix of residential and neighborhood commercial use but has since been reclassified entirely for neighborhood commercial use. Chosun Biz cited industry observers who said the site could accommodate a corporate office or commercial facility. They viewed the purchase as driven more by the value of the land and its redevelopment potential than by rental income from the existing building.