[2023 Asset Disclosure] Senior Officials Average 1.9 Billion Won... 7 out of 10 Increased Their Assets

Wealth Disclosure of 2,037 High-Ranking Officials... 30 Million Won Increase Compared to Previous Report for Same Individuals

The average wealth per person among 2,037 high-ranking central and local government officials under the Yoon Suk-yeol administration was recorded at 1.94625 billion KRW. This represents an increase of 29.81 million KRW compared to the average wealth previously declared by the same individuals. Seven out of ten of these individuals reported an increase in their wealth compared to their previous declaration.

The Anti-Corruption and Civil Rights Commission disclosed the asset declarations of public officials subject to disclosure, including executive political positions (minister and vice minister level), grade 1 public officials, presidents of national universities, metropolitan and provincial superintendents of education, heads of public-related organizations, metropolitan and basic local government heads, and metropolitan council members, through the official gazette on the 30th.

This year, the average wealth of those subject to asset disclosure was 1.94625 billion KRW. Forty percent (812 individuals) of the asset disclosure subjects held assets worth less than 1 billion KRW.

By ownership, of the declared average assets (1.94625 billion KRW), the individual owned 1.02308 billion KRW (52.5%), their spouse owned 738.7 million KRW (38.0%), and direct ascendants and descendants owned 184.46 million KRW (9.5%).

The wealth of the asset disclosure subjects increased by approximately 29.81 million KRW compared to their previously declared assets. In particular, 73.6% (1,501 individuals) reported an increase in wealth compared to their previous declaration, while 26.4% (536 individuals) reported a decrease.

The main factor for the increase in wealth was the rise in property values due to increases in official housing prices and individual land price indices, accounting for an increase of 30.03 million KRW (100.7%). The decrease factor, such as securities sales or increased debt, resulted in a net asset decrease of 220,000 KRW.