Billionaire businessman Chung Yong-jin — a grandson of Samsung Group founder Lee Byung-chul and heir to one of South Korea’s largest retail conglomerates — has purchased a lavish home in the affluent Flats neighborhood of Beverly Hills. The seller was Indonesian coal mining tycoon Aan Sinanta, who paid “just” $12.6 million for the property back in 2012. On and off the market for more than six years — and once listed for as much as $22 million — the place ultimately sold to Yong-jin for a discounted but still hefty $19.2 million.
The only son of Samsung heiress Lee Myung-hee, one of South Korea’s wealthiest women, Chung serves as vice chairman of Shinsegae, which operates the discount supermarket chain Emart. His net worth is currently estimated at around $1.7 billion, per Forbes. He’s also a cousin of Samsung heirs Miky Lee and Jay Lee, who produced the Oscar-winning 2019 film “Parasite.”
Built in 2012, Chung’s new estate rests on over a half-acre of land secured behind gates, and features six bedrooms and 10 bathrooms in 11,000 square feet of ornately decorated living space. Described in marketing materials as “luxuriously updated,” the stately Tuscan-style mansion boasts a columned portico entrance that opens via double front doors to a foyer with an exceptionally grand “bridal” staircase and massive chandelier.
Main-level highlights include a formal living room spotlighted by a marble fireplace, and a formal chandelier-topped dining room with parquet floors and elaborate crown molding. There’s also a gourmet kitchen outfitted with a barrel ceiling, high-end Wolf appliances, a pizza oven and spacious eat-in island, plus a butler’s pantry and breakfast room with two sets of French doors to the backyard.
Other ritzy spaces include a handsome wood-paneled office, a posh movie theater, temperature-controlled wine cellar with a tasting area, fireside family room with a walk-in bar, mirrored gym and sauna. The upstairs contains a sumptuous master retreat featuring a marble fireplace, sitting area and not one but two showroom closets. A marble bathroom is equipped with a freestanding soaking tub.
The undeniable star of the show: the lushly landscaped grounds, which include an al fresco dining patio and adjoining outdoor lounge area hosting a monstrous fireplace, plus an outdoor kitchen with a built-in grill and bar, and a tiled pool and spa flanked by a sundeck. There’s also a subterranean garage with room for six cars.