It was revealed that the declared assets of Park Sang-woo, Minister of Land, Infrastructure and Transport, decreased by about 68 million KRW compared to the personnel hearing in December last year.
According to the new and retired high-ranking public officials' occasional asset registration details published in the official gazette on the 22nd by the Government Ethics Committee for Public Officials, Minister Park's assets total 937.58 million KRW. This amount includes assets under the names of his spouse and parents.
Minister Park declared an apartment in Sanbon-dong, Gunpo-si, Gyeonggi Province, Hanyang Baekdu Apartment, with an exclusive area of 149.76㎡, under his name, valued at 456 million KRW. Under his father's name, there is a Hyundai Apartment in Bokcheon-dong, Dongnae-gu, Busan, with an area of 84.90㎡, valued at 233 million KRW. Two vehicles are registered under his spouse's name: a 2023 model Niro Hybrid (33.06 million KRW) and a 2016 model Sportage (9.24 million KRW).
Deposits totaled 174.77 million KRW. Securities assets include 62 shares of Shinhan Alpha REITs (400,000 KRW) and 37,000 unlisted shares of P&T Global (185 million KRW). Financial liabilities amount to 155.49 million KRW.
After retiring as president of Korea Land and Housing Corporation (LH), Minister Park co-founded P&T Global, an overseas real estate development consulting company, in 2020. His activities at this company raised suspicions of preferential treatment during the previous personnel hearing. Since taking office, he placed the shares in a blind trust in February this year. He also invested 1.6 million KRW (2.66%) in the New Southern Economic Research Association, established for the same purpose as P&T Global.
Minister Park's assets decreased compared to the details submitted at the December personnel hearing, influenced by an increase of about 38 million KRW in bank debt. Additionally, he did not report his second son's assets, citing independent living maintenance.
Former Minister of Land, Infrastructure and Transport Won Hee-ryong's assets increased by 376.9 million KRW over the past year, totaling 2.31112 billion KRW, including family assets. Former Minister Won owns a single-family house in Arae-dong, Jeju-si, under his spouse's name, valued at 750.96 million KRW, with no change in price. Instead, deposits increased by 83 million KRW, and liabilities decreased by 333 million KRW.
Former First Vice Minister of Land, Infrastructure and Transport Kim Oh-jin declared assets totaling 1.01028 billion KRW (including himself, spouse, parents, and eldest son), a decrease of 283.36 million KRW compared to the previous declaration. Former Vice Minister Kim jointly owns an apartment in Yeoksam-dong, Gangnam-gu, Seoul, with an area of 84.87㎡, valued at 1.677 billion KRW, with his spouse.
He declared deposits of 227.78 million KRW and financial liabilities of 1.02975 billion KRW.
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