[Public Official Assets] Im Juntak, Suhyup Chairman, Decreases by 3.65 Billion KRW... 'Reflects Loan from Own Company Funds'

Im Juntak, President of the National Federation of Fisheries Cooperatives

[Asia Economy Reporter Joo Sang-don] It has been revealed that Lim Joon-taek, Chairman of the National Federation of Fisheries Cooperatives, saw his assets decrease by 3.65 billion KRW, making him the second public official with the largest reduction in assets.

According to the 2020 regular asset change report disclosed by the Government Public Officials Ethics Committee on the 26th, as of the end of last year, the total assets held under Chairman Lim and his family's names amounted to 2.66358 billion KRW.

The main cause of the asset decrease is an increase in debt. Chairman Lim started by founding Migwang Fisheries in 1984 and later established Daejin Fisheries, Migwang Frozen, and Daejin Fishery. He currently serves as chairman of Daejin Fisheries, Migwang Frozen, and Migwang Fisheries. Due to the worsening management in the large-scale longline fishing industry, he took out loans totaling 3.895 billion KRW. As a result, total debt increased to 13.635 billion KRW.

The value of land owned under the names of Chairman Lim and his spouse in Busan's Saha-gu and Seo-gu districts rose from 5.95402 billion KRW to 6.6 billion KRW, an increase of 646.56 million KRW. They also own detached houses and commercial buildings worth 6.27316 billion KRW. Securities worth 1.062 billion KRW under the names of himself, his spouse, and his second son were also reported.