Kim Eui-gyeom: "Han Deok-su's spouse's cash increased by 1.2 billion won in 10 years"... South Korea: "Gift and inheritance shares"

Kim Eui-gyeom "Occupation as 'Housework'... Spouse's Wealth Increase Process Must Be Transparently Disclosed"
Han Deok-su "Half Is Gifted by Candidate, Rest Is Mother's Inheritance Share"

Prime Minister nominee Han Duck-soo is leaving the Presidential Transition Committee office in Tongui-dong, Jongno-gu, Seoul, on the afternoon of the 14th. Photo by Transition Committee Press Corps

[Asia Economy Reporter Kim Jung-wan] On the 14th, the camp of Prime Minister nominee Han Deok-su refuted the claim made by Kim Eui-gyeom, a member of the Democratic Party of Korea, who raised questions about the increase of over 1.2 billion KRW in the nominee's spouse's cash assets over the past 10 years, stating that "the nominee gifted the amount to his spouse and inherited it from his mother."

The Prime Minister nominee's confirmation hearing preparation team released a statement on the same day, explaining, "The nominee's spouse's assets increased by 1.2 billion KRW from April 2012, when the nominee retired from public office, to April 2022," and "half of this amount was gifted by the nominee to his spouse."

They also asserted, "The nominee accurately reported this to the tax authorities and paid the taxes, and the corresponding amount decreased from the nominee's assets."

Furthermore, they stated, "The remaining increase is due to inheritance from the nominee's spouse's mother who passed away, as well as increased interest on deposits," and "the nominee couple also accurately reported this to the tax authorities and paid the taxes."

They added, "All questions that the public may have will be thoroughly explained during the confirmation hearing."

Earlier, Representative Kim held a press conference at the National Assembly on the same day, revealing that the nominee's spouse's cash assets increased by 1.2 billion KRW over 10 years, and said, "Looking at the materials submitted to the Special Committee on Personnel Hearings, there are many suspicious points," and insisted, "It is necessary to transparently clarify how the nominee's spouse's assets increased."

The nominee's spouse's total assets amount to 2.36725 billion KRW, of which 2.29949 billion KRW, excluding forest land, are cash assets. Among these, deposits amount to 1.90448 billion KRW, about 80%. After Han Deok-su retired from public office in April 2012, the reported cash assets were 1.06342 billion KRW, including 1.05258 billion KRW in deposits and 10.84 million KRW in gym memberships, which means the amount increased by 1.2 billion KRW as of April 2022.

Representative Kim pointed out, "Han Deok-su stated the spouse's occupation as 'housework' in the personnel hearing request," and added, "In reality, the nominee's spouse is known as a painter who held solo exhibitions once each in 2012 and 2021, but did not have a high-income occupation."

He criticized, "Even if all necessary expenses such as living costs were covered by the nominee's income and all of Ms. Choi's income was saved, an increase of over 1.2 billion KRW in assets over 10 years is not possible."