Analysis of Public Assets of 38 Presidential Office Aides
9 out of 20 Holders with Stocks Over 30 Million Won
No Stock Sales or Blind Trusts Implemented
[Asia Economy Reporter Oh Ju-yeon] It has been claimed that a significant number of senior officials in the Presidential Office who hold stocks exceeding 30 million KRW have neither sold their stocks nor placed them in blind trusts.
Jang Kyung-tae, Supreme Council Member of the Democratic Party of Korea, stated at the Supreme Council meeting on the morning of the 20th, "After requesting data from the Ministry of Personnel Management and analyzing the publicly disclosed assets of 38 aides in the Presidential Office, it was found that among the 20 individuals holding stocks worth more than 30 million KRW, 9 people, or 45%, neither sold their stocks nor placed them in blind trusts."
Supreme Council Member Jang explained, "According to the Public Officials Ethics Act, those subject to asset disclosure must sell their stocks or place them in blind trusts within two months if the total amount of stocks held by themselves and related parties (such as spouses) exceeds 30 million KRW. Failure to comply may result in dismissal or disciplinary action."
According to the information disclosed by Supreme Council Member Jang that day, six individuals, including Kang Seung-gyu, Senior Secretary for Civil Society, holding 52.7 million KRW; Joo Jin-woo, Legal Secretary, holding 955.72 million KRW; and Cho Sung-kyung, Secretary for Science and Technology, holding 152.74 million KRW, currently hold stocks worth more than 30 million KRW without taking any action. Among them, it is known that Kim Dong-jo, Secretary for National Messaging, holds stocks worth as much as 11.66218 billion KRW.
Supreme Council Member Jang said, "If assets are placed in blind trusts, the relevant department is required to publish this in the official gazette, but there was no record of stock sales or blind trust filings for these six individuals," adding, "There was also no record of requests for conflict-of-interest reviews."
It was announced that three individuals, including Chief Secretary Kim Dae-gi, fell under the category of 'below the standard after sale.'
It was explained that Chief Secretary Kim sold only 129.95 million KRW worth of stocks out of the 451.74 million KRW he held, leaving stocks worth 321.79 million KRW, which is more than 70%.
Supreme Council Member Jang pointed out, "We inquired with the Ministry of Personnel Management about the review applications and results, but only received responses saying 'We cannot confirm that.' A Presidential Office official said, 'This is not information we can confirm. Please check with the Public Officials Ethics Committee.' If no request for conflict-of-interest review was made or if the review is delayed, that itself is an ethics issue for public officials."
He also emphasized, "Since these are not ordinary public officials but workers in the Presidential Office handling the most important policies of the Republic of Korea, there is concern about inadequate or delayed verification, so a more responsible attitude is necessary," and added, "Once again, we request data from the Presidential Office and the Ministry of Personnel Management." He further stated, "We ask that data be provided promptly for matters that have not been clarified," and "We will raise additional suspicions."
In response, the Presidential Office stated, "We understand that there has been no failure or evasion of the obligation to place stocks in blind trusts, and that the matter is being handled lawfully according to the regulations and procedures stipulated in the Public Officials Ethics Act."
Regarding Chief Secretary Kim in particular, they rebutted, "Stocks of foreign companies that have their main office abroad and are not listed on the domestic market are not subject to blind trust requirements from the outset."
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