April 19, 2024

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[THE INVESTOR] Hotel Shilla CEO Lee Boo-jin’s estranged husband former Samsung Electro-Mechanics’ advisor Lim Woo-jae has put up for auction their home even as their divorce is being finalized, according to industry sources on March 31.

The two-story house is located in Seongnam City, Gyeonggi Province, and stands on 417.1 square meters of land. The first story spans 201.15 square meters, while the second spans 139.68 square meters. The court ordered auctioning of the house on March 15, said sources at Seoul-based Ggi Auction that specializes in real estate auction sales. 

Lim Woo-jae (left), Lee Boo-jin

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The home was purchased by Lim in April 2000. It was used as collateral for 2.2 billion won (US$1.96 million) worth of home equity loans, of which 1 billion won was taken out by a firm called IRC. Its relation with Lim is not yet known.

Ggi Auction cited internal problems at IRC as the reason behind Lim’s decision to put up the house for auction. The firm did not rule out the possibility of Lim canceling the auction.

By Hwang Yo-mee (glamazon@heraldcorp.com)