Noh Hong Chul reportedly acquires building previously owned by MC Mong

Noh Hong Chul has reportedly purchased a building previously owned by MC Mong for 15.2 billion KRW (Approximately $11.3 million).

According to a report on April 22, MC Mong’s company The Mu sold the property located in Sinsa-dong, Gangnam, roughly a year and a half after acquiring it from Kang Ho Dong for 16.6 billion KRW (Approximately $12.4 million).

Based on the transaction price, the company appears to have incurred a loss of around 1.4 billion KRW (Approximately $1 million), with the actual loss expected to be higher when factoring in taxes and loan-related costs. It was also reported that a large portion of the original purchase had been financed through loans.

Meanwhile, Noh Hong Chul is said to have used an existing property as collateral for the acquisition.

The deal has also caught attention due to the connection between the three entertainers, who were all part of the early lineup of KBS2’s ‘1 Night 2 Days,’ adding an interesting layer to the transaction.

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