Released from jail, former BigBang member Seungri relocates to Hong Kong for a fresh start

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    23rd May 2024 – (Hong Kong) Seungri, the former singer from the popular South Korean boy band Big Bang, who has faced multiple criminal charges resulting in imprisonment, has reportedly relocated to Hong Kong and is preparing to start afresh in the city. Seungri, known for his controversial past, has strategically chosen Hong Kong as his base for several reasons, at least two of which offer significant economic advantages. For a former superstar who has faced challenges restarting his career in South Korea, where his notoriety remains a hurdle, Seungri’s fame still commands attention in various Southeast Asian countries. Therefore, his choice of a new destination is undoubtedly a carefully considered decision.

    Seungri’s decision to embark on a fresh start in Hong Kong is likely driven by three key factors. Firstly, Hong Kong’s proximity to China, the largest market in Asia, presents a lucrative opportunity. With a series of scandals and his imprisonment affecting his prospects in the domestic South Korean market, focusing on the mainland Chinese market is a popular choice. Hong Kong’s transportation infrastructure enables convenient access to various provinces and cities in mainland China, making it an ideal base for conducting business and seizing job opportunities there.

    Secondly, Hong Kong’s financial freedom allows for seamless capital flow. Establishing his base in Hong Kong enables Seungri to easily handle financial transactions, whether it be receiving payments, transferring funds, or managing income from new business ventures or performance projects. Funds can be readily parked in Hong Kong or transferred to destinations worldwide as needed.

    Thirdly, Hong Kong’s property market offers advantages for foreign investors following the relaxation of stamp duty regulations. Compared to other popular property investment destinations like Singapore, the United Kingdom, and Australia, which continue to impose stringent taxes, Hong Kong’s luxury properties have become comparatively more appealing.

    If Seungri indeed invests in Hong Kong properties, this news is likely to spread across Southeast Asia and several European countries. Even though many people hold negative impressions of Seungri as a South Korean celebrity, his real estate moves may prompt a reevaluation of the allure of Hong Kong’s luxury properties. Combined with the government’s talent programs, this development could potentially inject new energy into the local luxury property market.

    Rumors from netizens indicate that Seungri has expressed interest in conducting business in the eastern part of Tsim Sha Tsui, and his recent appearance in Hong Kong’s nightlife scene suggests he may venture into the bar and entertainment industry again.

    Given Hong Kong’s current market conditions, every district is focusing on boosting its nighttime economy, and the decision to open a bar or entertainment venue can be a lucrative one. Even if Seungri faces financial setbacks, both property owners in Tsim Sha Tsui and suppliers in the nightlife industry stand to benefit. Opening a bar or entertainment venue involves at least a one-year investment period, guaranteeing stable rental income for property owners. Additionally, renovation companies can earn substantial profits through design and construction fees, while beverage suppliers can count on at least six months of steady demand. Seungri’s fame is expected to attract investors to lease nearby shops and open restaurants or bars, further benefiting the surrounding property owners.