Jung Jun-ha, a broadcaster and restaurant entrepreneur, has received a decision to suspend the forced auction of his Gangnam apartment, valued at approximately 3 billion won.
In a phone call with News1 on the 3rd, Jung stated, “I submitted a petition for objection to the auction and an application for suspension of forced execution, and today the decision to suspend the auction was made.” He added, “The objection lawsuit will take about a year, and the auction should not proceed until a ruling is made, which is why I applied for the suspension of forced execution.”
The Seoul Central District Court decided to initiate a forced auction of the property located in Central Heights Village, Samseong-dong, owned by Jung Jun-ha, last July. The market price of the apartment is reported to be over 3.6 billion won, with an appraisal value of 1.795 billion won. The creditor is a liquor distribution wholesaler, claiming that they have not received over 230 million won from Jung.
Jung is in conflict with the liquor distribution wholesaler. According to Jung, he borrowed 200 million won from wholesaler A when he opened his second tavern in 2018. He agreed to repay 5 million won per month for 40 months, but due to circumstances such as COVID-19, the repayment was delayed, although he completed all repayments by June this year. However, A suddenly applied for auction in July, claiming they had not received the delayed damages.
In response, Jung stated, “If I had known there were delayed damages, I would have paid immediately,” expressing his grievance.
Jung's legal representative, lawyer Lim Young-taek from the law firm Neulpum, stated, “The transaction between Jung and A is not reasonable, and even if the repayment schedule was not properly followed, a 24% annual delayed damage fee is legally excessive.” He added, “There are also suspicions of intent, so we are considering not only civil litigation but also potential criminal charges in the future,” indicating legal action.
