Rapper Gray reveals apartment bought for W250m now worth W1b

Gray (Kim Dong-hyun), rapper and son of broadcaster Kim Gu-ra, has drawn attention after revealing real estate assets he built from childhood television earnings. He said a 106-square-meter apartment he bought in Guri, Gyeonggi Province, using a jeonse arrangement and 250 million won ($184,000) in cash has since risen in market value to around 1 billion won.

The disclosure came Friday in a video titled "Please allow me to marry your daughter," uploaded to the YouTube channel "KimGray."

Comedian Jo Hye-ryeon played a prospective mother-in-law in a scripted skit with Gray centered on seeking her blessing for marriage.

When Jo asked about his plans for a newlywed home, Gray recalled his childhood appearances on the SBS variety program "Bungeo-ppang."

"I had a huge hit doing 'Bungeo-ppang' for about four or five years," Gray said. "I bought a small apartment in the Guri area of Gyeonggi Province — three bedrooms, two bathrooms. I also have a classic car."

On his current income, he said his earnings fluctuate by the nature of his work. "I was discharged from the military not long ago and I'm working hard right now," he added.

He acknowledged uncertainty about the future but said he had assets to fall back on. "The future isn't guaranteed, but I've got things rolling — I have a house and a car," he said.

The apartment is believed to be the 106-square-meter unit in Guri that Kim Gu-ra previously mentioned on air as belonging to his son.

According to Kim Gu-ra, Gray purchased the apartment by putting in 250 million won in cash while taking on a jeonse deposit of 500 million won. The market value has since climbed to around 1 billion won, driven in part by redevelopment expectations.

By simple calculation, the apartment's current market value is roughly four times the 250 million won in cash Gray actually invested.

Jo responded by saying the apartment was beside the point. "Honestly, the apartment doesn't matter," she said. "Starting small together and overcoming hardships is itself a great asset. My conclusion is: I'll hold off — I think I need to meet Gray's father first."

Gray replied, "Is there any way you don't have to?" before calling Kim Gu-ra on the spot, drawing laughter.