From what I've heard. Renting in general in rare in Korea. They tend to buy their property rather then rent.
Now, if I'm wrong, to develop this site would be a bit difficult no? I mean, you would require a translator for sure. You would need some Korean connections..
What i'm trying to say is that it's just not strong enough of a name to invest too much time in.
Best of luck nonetheless!
This is coming from a guy who owns about five Seoul/Korea domain names.