Kim Tae-yeon was defrauded of planning a real estate fraud and lost more than 1 billion won. On October 28, according to Korean media reports, the victim of a planned real estate fraud incident totaling more than 250 billion won, the "K-pop star belonging to the girl group", was Kim Tae-yeon of Girls' Generation.
Kim Tae-yeon bought land in Henan City, Gyeonggi Province, for 1.1 billion won from a large real estate group in 2019. However, the land purchased by Tae-yeon was designated as a mountain that could not be repurposed except for military or public facilities. According to the provisions of the Law on the Protection of Mountains and Forests, it is designated as a "protected production area" and is in fact a land that cannot be developed. After the company purchased the land for 400 million won, it sold it to Kim Tae-yeon for 1.1 billion won in three months. The police believe that after dividing the undevelopable land into small pieces, the real estate group falsely claimed that there was undisclosed development information and resold it to more than 3,000 people. And because the group has a 20-year tradition and also broadcasts TV commercials, it has always avoided people's suspicions, and it is reported that they have hired famous comedians from KBS as salesmen, attracting wealthy investors.
The investigating authorities investigated representatives of four subsidiaries of the relevant group on suspicion of fraud under the Specific Economic Crimes Act and violations of the Farmland Act. Korean media contacted Tae-yeon's company, S.M Entertainment, on this matter, but it is currently impossible to contact.