Rapper Swings, who recently turned to acting with his casting in the upcoming K-Movie Tazza: The Song of Beelzebub, has sold his ownership stake in an office building located in the trendy neighborhood of Yeonhui-dong, Seoul. After four years of investment and renovations, he is estimated to have earned approximately ₩900 million KRW (about $625,000 USD).
The sale is viewed as a decision tied to changes in his business environment, including the dissolution of his AP ALCHEMY label and the departure of affiliated artists.
Rapper and actor Swings | @itsjustswings/Instagram
According to Building Road Real Estate Brokerage on February 15, 2026 (KST), Swings sold his entire 45% stake in the Yeonhui-dong building last May for ₩4.50 billion KRW (about $3.12 million USD) to Joo Eon Gyu, who previously operated as the economic YouTuber Sinsaimdang.
Swings originally purchased the building in June 2021 alongside Joo and one additional co-investor, for a total of ₩6.50 billion KRW (about $4.51 million USD), through a corporate entity. At the time, Swings held a 45% stake, investing approximately ₩2.93 billion KRW (about $2.03 million USD).
The building, originally completed in 1976, was aging at the time of purchase. After acquiring it, the investors carried out extensive interior and exterior remodeling and major renovations.
Kim Kyung Hyun, a team leader at Building Road Real Estate, stated, “Including acquisition tax, legal fees, and brokerage commissions, the total acquisition cost was around ₩6.88 billion KRW (about $4.77 million USD). When factoring in remodeling costs of roughly ₩4.00 million KRW (about $2,780 USD) per 3.3㎡ (one pyeong), the total investment is estimated at approximately ₩8.01 billion KRW (about $5.56 million USD).”
Including renovation costs, Swings’ actual total investment is estimated at around ₩3.60 billion KRW (about $2.50 million USD). He later used the building as the headquarters for his label, AP ALCHEMY, and publicly referenced his role as a building owner during variety show appearances. Based on these figures, Swings is estimated to have earned roughly ₩900 million KRW (about $625,000 USD) in profit over four years from his investment.
Swings’ building being shown on “The Manager” | MBC
Industry observers suggest the sale aligns with changes in his entertainment business. AP ALCHEMY faced difficulties following the dissolution of sub-labels and the departure of artists. While the property had originally been secured to expand his music and entertainment operations, several projects reportedly fell short of expectations, leading to the liquidation of the real estate asset.
During the purchase process, a mortgage was registered on the building with a maximum secured amount of ₩5.94 billion KRW (about $4.12 million USD). Considering standard lending ratios, the actual loan amount is estimated to have been around ₩4.95 billion KRW (about $3.44 million USD). Based on the transaction price, the building’s full value is assessed at approximately ₩10.0 billion KRW (about $6.94 million USD).
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