The residence of late former President Kim Dae-jung in Seoul is set to be turned into a memorial and disclosed to the public as early as in October.

Kim Hong-gul, the third son of the late president, said in a press release on Friday that he and the head of a coffee franchise who bought the estate for ten billion won, agreed to turn the residence into a memorial that honors the life and achievements of the late president. 

The junior Kim said the franchise head, surnamed Park, recognized the fact that the residence holds historical value as the center of democratic movements. 

Kim said the residence will undergo repair with the original structure left unchanged, adding that the envisioned memorial will be disclosed to the public in October or November.