Park Jin Young reported to have sold the JYPE Building to SK Telecom Chairman's sister for 7.6 billion won

Park Jin Young reported to have sold the building of his company last November.

According to various reports on December 17th, Park Jin Young sold the JYPE Buiding located in Cheongdam-dong to SK Telecom Chairman's younger sister Choi Goi Won, who is also the president of SK Happiness Foundation for 7.6 billion won last November.

Following the sale, JYP Entertainment is currently under a 3 year rental contract for the building with the monthly rent worths 25 million won. The sale was completed on November 25th and the company still has no plan on whether they will acquire or build a new building.

It was revealed that the building was Park Jin Young's private property as he purchased it in March 2011 for 2 billion won and has earned in return more than 3 times of his investment in the past 13 years. The company also dismissed the rumours saying the reason behind the building sale was because they were facing some financial problems.