Rain makes SGD35 million profit after selling his label’s building in Cheongdam, Seoul

Seoul — Korean pop star Rain sold a commercial building he bought 13 years ago and made 30 billion KRW (SGD35million) in capital gains.

It was reported on June 21 that the actor-singer bought the building in 2008 for 16.8 billion KRW (SGD19 million) and later sold it this year for 49.5 billion KRW (SGD58 million). Rain has been using the building for his label, Rain Company, according to Allkpop.

Some of the attractive features of the building are its close proximity to the Cheongdam Station and the luxury brand district.

Numerically computed, Rain has gained 32.7 billion KRW (SGD38 million) but his actual profit would be less than that after considering he has spent 7 to 8 billion KRW (8 to 9 SGD million)for renovating his building, not to mention the taxes.

Born on June 25, 1982, Jung Ji-hoon, better known by his stage name Rain, is a South Korean singer, songwriter, dancer, actor, and record producer.

Rain’s musical career includes seven albums (six Korean, one Japanese), 28 singles and numerous concert tours around the world. He achieved breakthrough success with his third Korean album, It’s Raining (2004), which spawned the number one single of the same name. The album sold a million copies in Asia, and established Rain as an international star.

Rain made his acting debut in the 2003 drama Sang Doo! Let’s Go To School. His lead role in the pan-Asia hit drama Full House (2004) established his status as a Hallyu star. In 2008, Rain made his Hollywood debut in the film Speed Racer and starred in Ninja Assassin (2009), the latter of which made him the first Korean to win an MTV award.

Rain had set up his own company twice, the first being J. Tune Entertainment in 2007, and R.A.I.N. Company in 2015.

Rain was born as Jung Ji-hoon on June 25, 1982, in Seosan, South Korea. His mother died in December 2000 as she struggled with diabetes. In the same year, Rain was recruited as a trainee for JYP Entertainment, led by recording artist and producer Park Jin-young./TISG