IU Responds To Accusations Of Real Estate Investment Fraud, Blue House Petition Signatures Continue To Increase

On the morning of January 7, it was reported that IU was on the list of beneficiaries who benefited from the GTX (metropolitan express train) business.

According to the media outlet, IU purchased a building and land in Gwacheon in January 2018 for 4.5 billion KRW (approx. $4 million USD) and according to a real estate agent from the area, the current market price for the building/land is around 6.9 billion KRW (approx. $6 million USD), 2.3 billion KRW (approx. $2 million USD) more than what it was when IU bought it.

Other people who allegedly benefited from the increase in the cost of land in the GTX region included CEOs and chairmen of large corporations, but the price of IU’s building/land had reportedly gone up the most.

In regard to the news, the real estate agent stated the reason behind the rapid rise in prices and worried that the number of people trying to invest in the area might increase.

“The real estate prices of the region are rapidly rising because of the GTX, which was proposed by the government to target real estate. It’s a concern that the number of people looking to profit from the rising prices may increase.”

ㅡ Real estate agent

People have been speculating that IU may have known the benefits of purchasing the building/land in this region and bought the building for investment purposes.

Meanwhile, IU’s agency has been quick to respond to these accusations, claiming that they were false and that the building she bought was purchased for use and not as a means of investment.

“Claims that IU purchased the building/land as an investment is false. It was not purchased for investment at all. The building is currently being used for IU’s mother’s office, IU’s own studio and a practice room for juniors that IU support. She has no plans to sell it.”

ㅡ Kakao M

They added that the figures that were proposed in the reports were impossible and that the 2.3 billion KRW (approx. $2 million USD) increase in the real estate price was incorrect.

“The profit margin that was revealed is impossible. First of all, 2.3 billion KRW is incorrect information. In addition, the neighborhood istelf is not being traded on the market.”

ㅡ Kakao M

Despite the statement, however, a Blue House petition that requests a thorough investigation of her investment scandal has reached 22,955 signatures as of 6pm KST on January 7th and continues to accumulate more signatures.