Lim Ye Jin finally went to see the Jeju land she bought for her retirement, and it was not what she expected.
On November 12, a video titled "Lim Ye Jin goes to find the Jeju land she bought 15 years ago without seeing it" was posted on her YouTube channel. "I have a piece of Jeju land I bought more than ten years ago," she explained. "A younger acquaintance I trusted, who knows a lot about investing, said they were buying land on Jeju, so I asked for the plot next to theirs and bought 50 million won worth." Since she had never seen it, she said she came "to check it with my own eyes."
Photo: Lim Ye Jin YouTube
The land turned out to have no road leading into it. A worker at a nearby office told her, "This is a rocky hill (quarry land). The land is very cheap. Nothing can be built here," estimating its value at around 100,000 won per pyeong (about 3.3 square meters).
There was another twist. Checking the land registry, Lim Ye Jin discovered that the property has more than 178 registered owners. The plot of about 1,400 pyeong (roughly 4,600 square meters) had been split into shares among many people, and at 100,000 won per pyeong, her share is worth only about 820,000 won.
Photo: Lim Ye Jin YouTube
When she called an acquaintance who knows real estate, she was told, "You were tricked by a planned real estate scheme. Think of it as a place where birds come to live. It won't even sell. Just forget about it, or you'll need blood pressure medication." Such schemes buy up land with little development potential, divide it into shares and sell them to many buyers at inflated prices by suggesting development is on the way.
Born in 1960, Lim Ye Jin debuted in the 1974 film Pagye and became a hugely popular "high-teen star" in the 1970s. She has stayed active in dramas and variety shows and now shares her daily life on her YouTube channel.
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