President's former hanok on sale for US$4.5m

Rumours [2011] say it may now be converted to a luxury boutique hotel

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한국어 번역 - 클릭

The hanok [in Kahoi-dong] where President Lee used to live as a tenant is for sale, or looking for a tenant.

A local estate agent says, "The house where President Lee used to live, a hanok in Kahoi-dong, has been for sale since two months ago. At first, the owner was looking for a new tenant, but nobody came forward."

President Lee lived in the house for about 20 months since just before his term as Mayor of Seoul ended and until he moved into the Blue House. His rental contract finished at the end of July [2008].

Although his rental contract ended he was not able to get his key money back from the owner. The owner asked him to wait till the end of October [2008] for the money.

The key money [for rental] is KRW 1 Billion (about US$ 893,000) while the sale price is KRW 5 Billion, (about US$ 4,465,000) including tax, according to the local estate agent.

The land size is 363 square metres and has two hanoks and an attached house. It has been empty since President Lee moved to the Blue House.

Update - September 2010, the hanok remains empty. Local gossip suggests it is being converted into a guest-house and there are signs to suggest some construction work is under way]

Update - September 2011, Construction and interior work has been continuing for a year now. Local rumours say it will open shortly as a luxury boutique hotel or ryokan, charging guests KRW 1 million (about US$900 / UK£ 600) each per night. If true, these would be well into the top tier charges at Seoul's leading hotels. Read: President Lee Slept Here


Main text (without updates) Translated from The Hankyoreh. Original at:
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