Entertainment agency IOK Company buys ex-President Park's residence

▲ This photo shows former President Park Geun-hye's residence in Seoul on June 22, 2021. (Yonhap)

SEOUL, Oct. 6 (Yonhap) -- IOK Company (hereinafter referred to as IOK), an entertainment agency managing actress Go Hyun-jung and actor Jo In-sung, has purchased former President Park Geun hye's private residence in Naegok-dong, Seocho District, Seoul.

According to broadcasters on Wednesday, IOK won the bid for former President Park's private residence land and building through a court auction on Sept. 16, and the ownership transfer was completed on Oct. 1. The winning bid amount was totaled up to 3.864 billion won.

In this regard, IOK said, "It is difficult to officially confirm the purchase."

The prosecution executed the seizure of private homes in March when former President Park, who was imprisoned with a 20-year jail term, a fine of 18 billion won and an additional fine of 3.5 billion won by the Supreme Court for the 2016 South Korean political scandal, did not voluntarily pay the fines.

The private residence is a detached house in a housing complex adjacent to the Guryongsan Mountain, and former President Park purchased it in April 2017.

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