Ock Joo-hyun, a member of K-pop girl group Fin.K.L and a prominent musical theater actress, has addressed a court decision to begin a foreclosure auction of her luxury home in Seoul's Hannam-dong, which she purchased for 19 billion won ($13.3 million). Gemstone E&M, which represents Ock, said Thursday that the auction proceedings are part of a broader process involving business restructuring and debt settlement. "Ock Joo-hyun had developed concrete business plans and begun preparations centered around an existing corporate building in Sinsa-dong as she sought to launch new ventures in various fields, including performances, performance production and education," the company said. "During that process, she secured a large-scale investment from a business investment company." The company said Ock purchased the Hannam-dong property in April as the businesses and investment arrangements moved forward. "Following the recent completion of a merger and acquisition deal between Ock Joo-hyun's company and the investment firm, procedures are underway to settle existing matters, including debt rela