[Public Official Asset Disclosure] Deputy Minister of Agriculture and Food suspected of land speculation, no real estate... 2 billion won in deposits

Minister Kim Hyun-soo of the Ministry of Agriculture, Food and Rural Affairs, 2.05 billion KRW... Chairman Lee Seong-hee of NongHyup Central Association, assets of 3.64 billion KRW

[Sejong=Asia Economy Reporter Kim Hyun-jung] The assets of Park Young-beom, Vice Minister of the Ministry of Agriculture, Food and Rural Affairs, whose spouse was suspected of farmland speculation, were reported at 2,888,920,000 KRW, an increase of 143,510,000 KRW compared to the previous year. The controversial land had already been sold and was not listed, and most of the stocks previously held were sold, with a significant portion of the assets (2,031,250,000 KRW) held in deposits.

According to the '2021 Regular Asset Change Report' disclosed by the Government Official Ethics Committee through the official gazette on the 25th, the total assets reported by Vice Minister Park as of the end of last year amounted to 2,888,920,000 KRW, an increase of 143,510,000 KRW from the previous year (2,745,400,000 KRW).

It was found that he did not hold any real estate, including houses or land. Only a jeonse right for an apartment in Singye-dong, Yongsan-gu, Seoul, under his spouse's name (620,000,000 KRW) was reported. Previously, in September 2016, the land (66㎡, purchased for 50,000,000 KRW) in Pyeongtaek-si, Gyeonggi-do, which his spouse bought through an agricultural corporation and was suspected of being split for speculation, was sold in May 2019 for 45,000,000 KRW when he was appointed as Secretary for Agriculture, Food and Rural Affairs at the Blue House. At the time of purchase, Vice Minister Park was the representative of the Regional Agricultural Network Cooperative Federation, a civic group related to agriculture, and the land was near the private urban development project site, the Hwayang District development project, which caused controversy. When the related facts became known, Vice Minister Park explained that it was a weekend farm and not intended for speculation.

Most of Vice Minister Park's reported assets were in the form of deposits. The reported deposits increased by 273,250,000 KRW from the previous year (1,758,000,000 KRW) to 2,031,250,000 KRW. Other reported assets included securities worth 61,200,000 KRW, bonds worth 146,000,000 KRW, and vehicles under his spouse's name: a 2007 model 1600cc Avante (2,590,000 KRW) and a 2019 model 2000cc Grandeur IG Hybrid (30,220,000 KRW). He refused to disclose his parents' assets citing independent livelihood maintenance.

Minister of Agriculture, Food and Rural Affairs Kim Hyun-soo reported assets totaling 2,054,660,000 KRW, an increase of 110,990,000 KRW from the previous year. A pre-sale right under Minister Kim's name (885,000,000 KRW) was converted to a completed apartment building, the Gwacheon Prugio Summit (157.70㎡), valued at 1,279,230,000 KRW. Land under his spouse's name in Pocheon, Gyeonggi-do (999.00㎡) was reported at 23,570,000 KRW. Most other assets were deposits totaling 807,100,000 KRW under his and his family's names. Debt was 90,970,000 KRW, significantly reduced from the previous year (524,470,000 KRW) due to repayment of pre-sale loans and student loans. Vehicles reported included three cars: a 2016 model 3342cc G80 under his name (25,230,000 KRW), a 2009 model 2000cc Golf 2.0 TDI under his spouse's name (4,670,000 KRW), and a 2018 model 1591cc Kona (12,210,000 KRW).

Among the affiliated and subordinate organizations of the Ministry of Agriculture, Food and Rural Affairs, the person with the largest real estate assets is Lee Sung-hee, President of the National Agricultural Cooperative Federation. President Lee's total assets amount to 3,646,030,000 KRW, most of which are real estate (3,347,000,000 KRW). These include an apartment in Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do (182.23㎡), buildings and land (572.00㎡) in Pogok-eup, Cheoin-gu, Yongin-si under his and his spouse's names, a detached house in Sinwon-ri, Pogok-eup, Cheoin-gu, Yongin-si (land 245㎡, building 98.73㎡) under both names, a mixed-use building (residential + commercial) in Yeoksam-dong, Gangnam-gu, Seoul, and a jeonse right for an apartment in Pyeong-dong, Jongno-gu, Kyunghee-gung Xi (77.65㎡, 680,000,000 KRW).