[Public Officials' Asset Disclosure] Average Assets of 814 Newly Elected Officials in the June 1 Local Elections... 1.59 Billion KRW

Metropolitan Mayors, Superintendents, Basic Local Heads, Metropolitan Council Members... No.1 'Joseongmyeong, Gangnam District Mayor' with 52.77 Billion Won

[Asia Economy Reporter Baek Kyunghwan] The average assets of 814 public officials elected in the June 1 local elections were found to be 1.59162 billion KRW.

On the 30th, the Government Public Officials Ethics Committee disclosed the asset registration details of 814 newly elected officials, including 13 metropolitan governors, 8 superintendents of education, 148 heads of basic local governments, and 645 metropolitan council members, through the official gazette. Those re-elected to the same position or public officials who retired after May 2, such as members of the National Assembly (323 people), were excluded.

The average assets by position were ▲metropolitan governors 2.284 billion KRW ▲superintendents of education 1.064 billion KRW ▲heads of basic local governments 2.568 billion KRW ▲metropolitan council members 1.359 billion KRW. The disclosed assets include real estate, deposits, stocks, etc., held by the individual, spouse, and direct ascendants or descendants as of July 1, the start date of the term, as reported in the asset declaration form.

In terms of total assets, Cho Seongmyeong, Mayor of Gangnam-gu, reported the highest amount at 52.77 billion KRW. Among metropolitan governors, Kim Jintae, Governor of Gangwon Province, reported the highest total assets at 4.13 billion KRW, followed by Hong Junpyo, Mayor of Daegu, with 4.09 billion KRW, and Kim Dongyeon, Governor of Gyeonggi Province, with 3.89 billion KRW. Conversely, Kang Gijeong, Mayor of Gwangju (620 million KRW), Oh Younghun, Governor of Jeju (660 million KRW), Kim Younghwan, Governor of Chungbuk (940 million KRW), Kim Taehum, Governor of Chungnam (1.33 billion KRW), and Kim Dugyeom, Mayor of Ulsan (1.35 billion KRW) ranked in the bottom five.

Among heads of basic local governments, following Mayor Cho, Oh Taewon, Mayor of Buk-gu, Busan, reported 22.66 billion KRW, Choi Kyungsik, Mayor of Namwon, 21.6 billion KRW, Park Namseo, Mayor of Yeongju, 14.68 billion KRW, and Moon Heonil, Mayor of Guro-gu, 14.3 billion KRW.

The Government Public Officials Ethics Committee plans to review the asset registration details within three months of disclosure. If assets are falsely reported, omitted, or incorrectly recorded due to gross negligence, or if confidential information obtained through official duties is used for personal gain, measures such as warnings, corrective actions, fines, dismissal, or disciplinary requests will be taken according to the Public Officials Ethics Act.

Shin Byungdae, Secretary of the Government Public Officials Ethics Committee, said, "Asset registration and disclosure is a system to prevent illicit asset accumulation by public officials and to ensure fairness in public duties. Through this asset disclosure, we will strictly review the registered assets to enhance the transparency of elected officials' assets and to build a trustworthy public service society in local communities."