"Building Owner? No Rosy Future"...Why Ha Jungwoo Put Two Buildings Up for Sale

"It's Not Because of the Drama... It's the Market Situation"

"Being a Building Owner Doesn't Guarantee a Rosy Life"

Actor Ha Jung-woo. Workhouse Company

Actor Ha Jung-woo. Workhouse Company

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Actor Ha Jungwoo recently shared the reason why he put up a building he owns for sale.


On March 9, at the Link Hotel in Guro-gu, Seoul, Ha Jungwoo attended a press event for tvN's new weekend drama "How to Become a Building Owner in Korea." Regarding the recent issue of selling his building, he stated, "Because the real estate market has been sluggish recently, I have been trying to cut my losses early, so I put it up for sale two years ago." He added, "It's not because I experienced a change of heart while filming this drama that I made such a decision."


In February, reports indicated that of the four buildings Ha Jungwoo owns, he put the Gwancheol-dong building, which he purchased in 2018 for 8.1 billion won, up for sale at 9.5 billion won, and the Bangi-dong building, purchased in 2019 for 12.7 billion won, for 17 billion won. In 2021, Ha Jungwoo realized a substantial capital gain of 4.57 billion won by selling a building in Hwagok-dong, Gangseo-gu.


However, Ha Jungwoo explained that there were aspects he could relate to while filming "How to Become a Building Owner in Korea." He said, "Just because you are a building owner doesn’t mean you’ll have a rosy life or be financially secure. I realized this early on, so I found many relatable points. Since I made mistakes when I lacked financial and real estate knowledge, I was able to empathize with the character Gisoojong."


He further shared, "What I realized again is that it's not easy to become part of the FIRE (Financial Independence, Retire Early) movement. Of course, it is ideal to utilize leverage (borrowed funds) to purchase a building, but what matters is how much leverage you can actually handle. Throughout filming, I thought that it’s important to only take on as much as you can manage. The drama’s key message is that if you take on more than you can handle based solely on vague hopes, there will always be consequences."


Meanwhile, "How to Become a Building Owner in Korea" is a suspense drama about a struggling, debt-ridden building owner who joins a fake kidnapping scheme to protect his family and building, both more precious to him than life itself. The drama is scheduled to premiere on March 14 at 9:10 p.m.

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