In a significant real estate investment, Han Soo Min, the wife of renowned comedian Park Myung Soo, has acquired another Starbucks building for 17.35 billion KRW, approximately 9.9 million USD. This purchase marks another milestone in Han Soo Min’s expanding property portfolio, underscoring her keen interest and strategic investments in prime commercial real estate.
Park Myung Soo’s Wife Expands Real Estate Portfolio with New Starbucks Purchase
Park Myung Soo’s wife and dermatologist, Han Soo Min, reportedly earned approximately 8.1 billion KRW (~5.8 million USD) in profit from the sale of two Starbucks buildings before acquiring another one.
According to reports from News1 and Building Mate Real Estate Brokerage on June 27, Han Soo Min recently purchased a building in Seogyo-dong, Mapo-gu, Seoul, for 13.7 billion KRW (~9.9 million USD). This property, formerly housing a Starbucks store, has undergone remodeling, with some floors already leased out.
In July 2021, Han Soo Min bought another building in Seogyo-dong for 13.7 billion KRW (~9.88 million USD), initially vacant but previously occupied by Starbucks.
Following the ownership transfer in November 2021, Han Soo Min secured a 10 billion KRW (~7.2 million USD) loan to complete the purchase.
Construction commenced in April 2022, and by October 2023, the revamped building, originally with a basement and two above-ground floors, now features two basement levels and five above-ground floors. In March 2023, she obtained an additional loan of approximately 5 billion KRW (~3.6 million USD).
Spanning 395.7 square meters (approximately 119.7 pyeong) of land and 1234.4 square meters (approximately 373.4 pyeong) of total floor area, the new building already has some floors leased, accommodating a dessert café and entertainment offices.
Located near Hongdae Station, the building boasts excellent accessibility and visibility.
In 2023, transactions within a 200-meter radius reached prices up to 140 million KRW (~100,948 USD) per pyeong, while prices on Hongdae’s main walking street peaked at 190 million KRW (~137,000 USD) per pyeong.
Han Soo Min is renowned for her “Starbucks real estate investment strategy,” acquiring and remodeling old buildings for Starbucks leases.
In October 2011, she purchased an old building in Seongbuk-gu, Seoul, for 2.9 billion KRW (~2.1 million USD) and sold it in July 2014 for 4.66 billion KRW (~3.36 million USD) after leasing all floors to Starbucks following remodeling.
