In an exclusive coverage, the South Korean press Insight revealed that AKMU‘s Lee Chanhyuk recently closed the deal on a five-story building in the popular neighborhood of Hongdae in Mapo-gu, Seoul.

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AKMU’s Lee Chanhyuk. | @akmuchanhk/Instagram

Hongdae, also known by its official subway station name of “Hongik University Station”, is always and forever an indie musician’s paradise — with the neighborhood streets full of busking space and walking traffic.

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The TV program “Begin Again” team busking in Hongdae. | JTBC

The area is also thoroughly appreciated by foreigners visiting Korea, as it boasts a countless number of accommodations and easy access to the Gimpo and Incheon airports with an AREX (airport rail) stop.

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Hongik University Station | Wikiwand

Reportedly, Chanhyuk paid ₩4,750,000,000 KRW ($4,077,253 USD) for this building, located minutes away from the beloved Hongik University Station.

The building is said to be four stories high above ground level, with a single floor below ground level. It currently houses a franchise coffee shop that serves as one of the landmarks for the area.

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Lee Chanhyuk’s new building in Hongdae. | Instiz

Upon hearing the news, K-Pop fans are congratulating Chanhyuk on becoming a proud “Young & Rich” landlord. Many commented, “Considering the number of hit songs he has produced, it is not at all surprising he has the money to invest in real estate.

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  • “Talk about self-made millionaire!”
  • “Go Chanhyuk! Keep writing good music and taking all my money.”
  • “He sets such a good example of talented people getting paid what they deserve.”
  • “His name should be spelled Y O U N G & R I C H”
  • “Okay, but he has like 30+ mega hit songs… He deserves like 3 buildings.”