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A full view of former President Park Geun-hye's private residence in Daegu. (Photo: Yonhap News) |
[Alpha Biz= Paul Lee] SEOUL, South Korea — Feb 4, 2026 — The private residence of former President Park Geun-hye in Dalseong-gun, Daegu, has been provisionally seized following a legal dispute over unpaid loans from the founders of the YouTube channel "Garo Sero Institute" (GSI).
According to legal sources on February 4, Judge Han Seong-min of the Seoul Central District Court granted a request for the provisional seizure of the property on January 30. The request was filed by GSI CEO Kim Se-ui and the organization as part of a lawsuit to recover borrowed funds.
The total claim for the seizure amounts to 1 billion KRW (approx. $750,000 USD), with Kim claiming 900 million KRW and GSI claiming 100 million KRW.
The residence in question is a two-story villa (with one basement level) located in Yuga-eup, Dalseong-gun, sitting on a 1,676-square-meter plot. Park moved into the home after her special presidential pardon and release in 2022. It is reported that Park initially borrowed 2.5 billion KRW from GSI through her close aide, Representative Yoo Young-ha, to fund the purchase of the home.
While Park has reportedly repaid 1.5 billion KRW using royalties from her publications, the remaining 1 billion KRW has been outstanding for nearly four years. Kim stated via his YouTube channel that he "sent two certified letters to negotiate repayment but received no response," prompting the legal action.
Park’s representatives reportedly hold a different view regarding the calculation of the remaining debt, citing previous agreements concerning profit guarantees from her book sales.
A provisional seizure is a temporary measure to prevent the disposal of assets before a final court ruling. Consequently, Park is prohibited from selling or mortgaging the residence until the main lawsuit is resolved. This is not the first time Park’s property has faced legal seizure; her former home in Naegok-dong, Seoul, was previously confiscated and auctioned off due to unpaid fines and forfeitures.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
