Shinsegae's Chung buys $19.2M mansion in L.A.
Shinsegae Group Vice Chairman Chung Yong-jin purchased a $19.2 million-home in Beverly Hills, confirmed Shinsegae on Thursday.
The lavish home, built in 2012, features six bedrooms and 10 bathrooms in 11,000 square feet of ornately decorated living space, according to a report from Dirt, a luxury real estate website. The lot size is 0.51 acres.
The seller was Indonesian coal mining tycoon Aan Sinanta, who paid $12.6 million for the property in 2012.
The property has been on and off the market for more than six years and was once listed for $22 million.
Marketing material describes Chung’s new property as a “luxuriously updated” Tuscan-style mansion that boasts a columned portico entrance that opens via double front doors to a foyer with an exceptionally grand “bridal” staircase and massive chandelier, according to the Dirt report.
The living room has a marble fireplace, and the house has a movie theater, temperature-controlled wine cellar with tasting area and a walk-in bar.
“Chung purchased the mansion as he started to spend more time in the United States as a result of Shinsegae’s overseas business expansion,” said a person connected to the conglomerate, according to a report from JoongAng Ilbo.
“Chung personally purchased the mansion according to legal procedures,” said Yoon Tae-min, a spokesperson for Shinsegae Group.
BY JIN MIN-JI [email@example.com]
with the Korea JoongAng Daily
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