Jungkook, who values his privacy more than anyone else, once astonished netizens by purchasing a villa on a hillside in Itaewon in November 2020 for 7.63 billion won. The house that Jungkook purchased has a floor area of approximately 230.74 m² on a land plot measuring 637 m², and it was constructed in 1976.
After purchasing it, in 2021 Jungkook completely demolished the old house and proceeded to rebuild it into a modern villa with two basement levels and three above-ground floors, with a total construction area of approximately 1,161.04 m². The project was completed around late May 2024, and by December of the same year, Jungkook had confirmed with fans that he had moved into his new home.
The fact that BTS members in general and Jungkook in particular own high‑value real estate is not surprising news within the fan community. However, what is noteworthy here is that the neighborhood where Jungkook is living is famously home to many chaebol families such as SK, Shinsegae, Hyundai… so real estate there is always expensive and scarce.
In particular, in an article exclusively for members of Herald Economy, they emphasized that Jungkook is among the few people who could purchase a villa in the exclusive town of the Samsung and Shinsegae families.
To learn more about the so‑called “The Chaebol Family Town on Itaewon Hill” or Samsung’s “Private Fortress” and the major investment Jungkook made along with his considerable influence to acquire this house, please read the information compiled below:
“In Itaewon Hill, you pay whatever the seller asks. There are people lining up to buy, but no properties are being put on the market. The price becomes almost meaningless—it’s entirely up to the seller’s discretion,” said Mr. A, a representative of a real estate firm specializing in luxury housing in Yongsan.
The so‑called “Itaewon Hill road” is situated in the highland area on the border between Itaewon-dong and Hannam-dong in Yongsan, regarded as one of South кσяєα’s representative wealthy neighborhoods. Along the road are luxury single‑family homes surrounded by high walls, just a five‑minute walk from bustling Itaewon Station.
This area is where prominent business leaders from Samsung, SK, and Shinsegae reside. In particular, generations of Chaebol families have lived here for a long time, leading to Samsung and Shinsegae forming a family town along the hillside.
Honorary Director of Leeum, Hong Ra‑hee (wife of the late chairman and Samsung leader Lee Kun‑hee), lives in a large villa at the center. Right next to it is the home owned by Lee Seo‑hyun, Chairwoman of Samsung C&T. Samsung Electronics Chairman Lee Jae‑yong owns a house about a 15‑minute walk from these homes.
The standalone house adjacent to Lee Jae‑yong’s residence is also owned by the late Chairman Lee Kun‑hee but has not transferred ownership.
Lee Myung‑hee, Chairwoman of Shinsegae Group and sister of the late Chairman Lee Kun‑hee, also lives in this area. This year, the officially announced value of the house reached 29.72 billion won, ranking it as the most expensive home in the country. Since being designated as the standard detached house used for appraisal samples in 2016, Chairwoman Lee's residence has held the title of "the most expensive house in South кσяєα" for 10 consecutive years.
Chung Yong‑jin, Chairman of Shinsegae Group, owns a detached house connected to Chairwoman Lee Myung‑hee’s home via a second‑floor corridor, making them neighbors within the same enclave. Chairman Chung Yoo‑kyung’s house, also owned by a member of the Shinsegae family, is nearby.
It is clear that the neighborhood surrounding Jungkook’s villa is surrounded by members of the Samsung‑Shinsegae chaebol family, making it all the more astonishing that a BTS superstar acquired one of the homes there.
Herald Economy also noted that “the home sellers are also chaebol families that every South кσяєαn citizen knows,” and does not rule out the possibility that Jungkook bought his expensive villa from one of the Samsung‑Shinsegae family members!
Meanwhile, there have been very few transactions in the Samsung town in recent years, but the sums have been staggering. In 2025, only two sales occurred, with transaction prices of 32 billion won and 22.8 billion won respectively.
The house sold for 22.8 billion won last month was owned by the late Chairman Lee Kun‑hee during his lifetime. Considering that the late chairman purchased it for 8.2847 billion won in 2010, its value has increased by 14.5 billion won over about 15 years.
Moreover, the prime location and high security of this area have become a reason why the Samsung family “controls” the neighborhood further, making it extremely difficult and expensive to purchase. Business leaders are drawn by the area’s geographic feng shui, with Namsan Mountain behind and the Han River ahead, turning it into a reservoir of wealth and a site of career advancement.
Furthermore, the enclosed road layout, limited pedestrian traffic, and tight security from embαѕѕies and consulates enhance privacy for the ultra‑wealthy or celebrities. Particularly, height restrictions on high‑rise buildings are favored by cautious entrepreneurs, meaning that building a high wall alone can hide their private lives from the outside world. Because you cannot build “high‑rise” housing nearby, erecting a tall wall effectively shields their privacy.
Ultimately, the Samsung‑Shinsegae mega‑family living together in a “fortress in the heart of the city” leads to an extreme scarcity of single‑family homes, maximizing the value of villas in this neighborhood.
Due to its symbolic nature and rarity, only a very few people can afford to purchase a single‑family hillside house in Itaewon, let alone have sufficient influence—or even power—to conduct transactions with South кσяєα’s top billionaire families. Jungkook did that, which reveals the astonishing status and αѕѕets he holds!
