According to online US real estate media outlet Dirt, Chung has “purchased a lavish home in the affluent Flats neighborhood of Beverly Hills.”
The seller was Aan Sinanta, an Indonesian coal mining tycoon, who paid $12.6 million for the property back in 2012, the website reported.
The gated property, which was built in 2012, has over a half-acre of land and features six bedrooms and 10 bathrooms as part of the 11,000 square feet living space.
Other luxury features of the mansion includes a wood-paneled office, a movie theater, a temperature-controlled wine cellar with a tasting area, as well as a family room with a fireplace, a walk-in bar, a gym and a sauna.
Chung, who is the only son of Lee Myung-hee, chairwoman of Shinsegae Group, is also famous for his outgoing personality on social media.
Earlier this year, the retail giant acquired a professional baseball club previously owned by SK Group to boost the marketing of its brand.
Shinsegae Group boasts multiple subsidiaries including supermarket chain Emart, coffeehouse chain Starbucks Korea and shopping mall complex Starfield.
By Yim Hyun-su (firstname.lastname@example.org)Internet Explorer Channel Network