Picture of the Day: Most Expensive House in Central Seoul

The house shown in the photo, owned by Lee Myung-hee, chief of the Shinsegae Group, is the most expensive “standard” private home in the country, according to the appraisal released by the land ministry on Jan. 28, 2016. Standard houses are selected samples whose prices serve as the basis against which other houses are appraised. The official price of Lee’s house, with 2,861.83-square-meter floor space that sits on 1,758.9 square meters of land in central Seoul, was valued at 12.9 bilion won (US$10.7 million). Lee is the daughter of Lee Byung-chull, the founder of Samsung Group, and the younger sister of Samsung Group chairman Lee Kun-hee. (Yonhap)