General Public Level 10.5 Times Higher
10 Senior Officials Did Not Report Stock Blind Trusts
The average wealth of senior officials in the Presidential Secretariat under the Yoon Suk-yeol administration was found to be approximately 4.8 billion KRW. While some senior officials hold numerous stocks and real estate properties, there were also cases where stock blind trusts were not reported.
On the 14th, officials from the Citizens' Coalition for Economic Justice in Jongno-gu, Seoul, are presenting an analysis of the assets of senior officials in the Presidential Office under the Yoon Suk-yeol administration. Photo by Kang Jin-hyung aymsdream@
On the 14th, the Citizens' Coalition for Economic Justice (CCEJ) held a press conference titled "Analysis of the Wealth of Senior Officials in the Presidential Secretariat under the Yoon Suk-yeol Administration" at 10:30 AM in the CCEJ auditorium in Jongno-gu, Seoul. The investigation targeted 37 senior officials at the level of secretary or higher currently serving in the Presidential Secretariat. Six individuals, including Kwon Seong-yeon, Education Secretary, and Kim Young-tae, Director of Public Communication, were excluded from the analysis due to resignation or dismissal.
According to CCEJ, the average wealth per person among the 37 officials was 4.83 billion KRW. Additionally, the average real estate assets were found to be 3.14 billion KRW. A CCEJ representative stated, "This amount is 10.5 times the average wealth of Korean households," and added, "It also exceeds the average wealth of ministers and vice ministers in the Yoon Suk-yeol administration, which is 3.26 billion KRW (with an average real estate asset of 2.13 billion KRW), reaffirming their status as the highest-ranking power holders."
The wealthiest official in the Presidential Secretariat was Personnel Secretary Lee Won-mo, who holds 44.6 billion KRW. Following him were Kim Eun-hye, Chief Public Relations Secretary (26.57 billion KRW), Kim Dong-jo, Secretary for National Messaging (12.42 billion KRW), and Lee Gwan-seop, Chief Secretary for National Planning (7.53 billion KRW), in that order.
Among the 37 senior officials, 14 reported real estate rental debts and were self-managing rentals. The official with the highest building rental debt was Lee Gwan-seop, Chief Secretary for National Planning. He held a total of 7.2 billion KRW in building rental deposits, including a 6.9 billion KRW deposit for Nine One in Hannam-dong, Yongsan-gu, Seoul, which he owns, and a 300 million KRW rental deposit for a property owned by his spouse in Jung-gu, Daegu.
A CCEJ representative explained, "There were also cases where rental debts were not reported, but officials excessively owned two or more houses, non-residential buildings, or land," and added, "It is judged that these properties have rental potential."
Seventeen senior officials in the Presidential Secretariat were found to hold stock assets exceeding 30 million KRW under the names of their immediate family members. Among them, ten officials, including Kim Dong-jo, Speech Records Secretary, and Joo Jin-woo, Legal Secretary, did not report stock blind trusts. If stock holdings exceed 30 million KRW, they must be sold or placed in a blind trust within two months. However, if the stocks are unrelated to their official duties, the obligation to sell or place them in a blind trust may be waived.
A CCEJ representative pointed out, "As the Public Officials Ethics Act marks its 30th anniversary, institutional improvements are necessary," and emphasized, "The current disclosure requirements for asset registration should be expanded from grade 1 to grade 4 and above, the Ministry of Personnel Management should be granted authority and responsibility for transparent review processes, provisions allowing refusal to disclose assets that may conceal wealth should be eliminated, and rental business should be prohibited."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
