[2024 Asset Disclosure] Senior Officials' Average Wealth 1.9 Billion KRW... 47.35 Million KRW Decrease from Previous Reported Amount

"49.5% of Participants Increased Their Assets"

The assets reported under the names of 1,975 senior officials in the central and local governments of the Yoon Suk-yeol administration and their families as of the end of last year averaged 1.91 billion KRW per person. This represents a decrease of 47.35 million KRW compared to the average assets previously reported by the same disclosure subjects.

The Public Service Ethics Committee disclosed on the 28th the asset details of disclosure subjects including political appointees under the executive branch, senior civil servants of grade A, presidents of national universities, heads of public-related organizations, heads of metropolitan and basic local governments, metropolitan council members, and city/provincial superintendents of education through the Public Service Ethics System (PETI) and the official gazette.

This year, the average assets of disclosure subjects were 1.91 billion KRW. Among them, 41.2% (813 people) reported owning assets worth less than 1 billion KRW.

By owner, of the average reported assets (1.91 billion KRW), the individual owned 992.07 million KRW (52.2%), the spouse 744.45 million KRW (39.1%), and direct ascendants and descendants 164.48 million KRW (8.7%).

The assets of disclosure subjects decreased by approximately 47.35 million KRW compared to their previously reported assets. In particular, 50.5% of the subjects (997 people) reported a decrease in assets compared to the previous report, while 49.5% (978 people) reported an increase.

The main factor for the decrease in assets was a reduction of 80.62 million KRW (-170%) due to changes in asset values caused by declines in official housing prices and individual land price indices.

The main factor for the increase in assets was a net asset increase of 33.26 million KRW (+70%) due to rises in the composite stock price index and salary savings.