"Houses without fences"
#pangyo #technovalley #townhouse

Most of the Korean real estate market revolves around apartments. 60% of the people live in apartments and row houses. Everyone diligently raises money to have an apartment. But not everyone wants to 'live' in an apartment.

There are detached housing complexes that even people who live in apartments in Seoul worth billions of won are envious of. It is Unjung-dong, Seongnam-si. It is a detached housing complex created about 10 years ago when Pangyo New Town was built. This area is commonly referred to as Seopangyo (West Pangyo), and it is a place where Korean architects built wonderful houses like competing.

Chairman Jeong Yong-jin of Shinsegae Group also says that he lives in this neighborhood, and it is surrounded by forests and has strict security, so outsiders cannot access.
CEOs of mid-sized companies such as Tony Moly and Lock&Lock, and famous actors such as Kwon Sang-woo, Shin Ha-gyun, and Ryu Seung-ryong are also residents of Unjung-dong. They say they live in a high-end townhouse right next to a detached house complex.

Most houses in Unjung-dong, which range from at least $2 million to up to $10 million, have no fences or gates. There is a special reason for that. Why don't you come with me to a nice neighborhood?

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⭐️By “Maeil Economy” 2008.04.29

"Ex-Samsung Chairman Lee’s House Most Expensive in Korea"

The residence of Lee Kun-hee, former chairman of Samsung Group, in Itaewon-dong, Yongsan-gu, Seoul has been revealed to be the most expensive home in the country, according to government data on prices of 13.54 million homes (9.33 million apartment houses and 4.21 million detached houses) released on April 29.

With this, Lee’s home in Itaewon has maintained its top position for three consecutive years. The declared value of the house this year was 9.59 billion won ($9.57 million), up 450 million won from the previous year.

Considering that the declared price is usually 80 percent of the market price, the actual price of Lee’s home is estimated to stand above 11 billion won. The pricey home which is a building with two stories above and two under ground, has a land area of 649 pyeong (2,145 square meters) and a floor space of 1,040 pyeong (3,438 square meters).

A detached house in Unjung-dong, Bundang-gu, Seongnam, Gyeonggi Province came in second with 8.91 billion won. The house has not been exposed to the government’s survey so far as it was itemized as a villa, not a residence, until last year; however, it has been added to the list this year on the surveyor’s recent decision that it should be regarded as a residence, rather than a villa.

The residence of Bang Sang-hoon, CEO and president of the nation’s major daily Chosun Ilbo, located in Hukseok-dong, Dongjak-gu ranked third with a declared value of 8.36 billion won, down 270 million won from the previous year.
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