[2024 Asset Disclosure] 35% of National Assembly Members' Wealth Increased... Average Holdings 3.4 Billion Won

'Top Wealth' Ahn Cheol-soo 140.1 Billion Won... Lowest Jin Sun-mi
Lee Joo-hwan Reports 25.8 Billion Won, Up 20.1 Billion from Last Year
Average 2.7 Billion Won Excluding 2 with Over 50 Billion Won

Despite the economic downturn, 35% of National Assembly members saw an increase in their assets.

According to the 2024 regular asset change report of National Assembly members disclosed on the 28th by the National Assembly Public Officials Ethics Committee, out of 291 members as of December 31 last year, 103 members (35.4%) reported an increase in their assets over one year. The average assets of all members of the National Assembly amounted to 3.4347 billion KRW, but excluding Ahn Cheol-soo and Park Deok-heum of the People Power Party, who each hold assets exceeding 50 billion KRW, the average drops to 2.77882 billion KRW.

President Yoon Suk-yeol is delivering the policy speech on the 2024 budget bill and fund management plan at the National Assembly plenary session on the 31st. Photo by Hyunmin Kim kimhyun81@

The member whose assets increased the most over the year is Lee Joo-hwan of the People Power Party. His assets rose by 20.16 billion KRW compared to the previous year, reporting a final asset value of 25.88 billion KRW. The largest change occurred in the 'securities' category, reflecting the revaluation of unlisted shares of Seoho Urban Development held under his and his spouse’s names, shifting from face value to market valuation.

The member whose assets decreased the most during the same period is Park Jeong of the Democratic Party. His assets decreased by 16.54 billion KRW from the previous year, reporting 34.05 billion KRW in assets. The biggest change also occurred in the 'securities' category, where the value of unlisted shares such as Amazon Car Co., Ltd., held by him and his spouse, changed due to gifts, transfers, and valuation methods.

Regarding the scale of asset increases, a total of 42 members saw their assets rise by more than 100 million KRW. Among them, 8 members (7.8%) increased by more than 1 billion KRW, 2 members (1.9%) by 500 million to less than 1 billion KRW, 32 members (31.1%) by 100 million to less than 500 million KRW, 28 members (27.2%) by 50 million to less than 100 million KRW, and 33 members (32.0%) by less than 50 million KRW.

Ranking members with asset increases over 1 billion KRW by the amount of increase, starting with Lee Joo-hwan, are Ahn Cheol-soo of the People Power Party (5.43 billion KRW), Moon Jin-seok of the Democratic Party (5.41 billion KRW), Jo Myung-hee of the People Power Party (4.95 billion KRW), Park Deok-heum of the People Power Party (3.66 billion KRW), Baek Jong-heon of the People Power Party (3.57 billion KRW), Jeong Woo-taek of the People Power Party (3.25 billion KRW), and Kim Nam-guk, an independent member (1.53 billion KRW). Except for Moon Jin-seok and Kim Nam-guk, all belong to the People Power Party.

Ahn Cheol-soo, a candidate for the leader of the People Power Party, is holding a press conference related to the party convention at the National Assembly on the 3rd. Photo by Yoon Dong-joo doso7@

The wealthiest National Assembly member is Ahn Cheol-soo, whose assets increased by 5.43 billion KRW due to factors including the rise in AhnLab’s stock price, which constitutes most of his wealth. His final reported assets amount to 140.14 billion KRW. Following him are Park Deok-heum (56.28 billion KRW) and Jeon Bong-min (39.56 billion KRW), both from the same party.

There are also several members with assets exceeding 10 billion KRW. These include Park Jeong of the Democratic Party (34.05 billion KRW), Baek Jong-heon of the People Power Party (33.3 billion KRW), Lee Joo-hwan of the People Power Party (25.88 billion KRW), Yoon Sang-hyun of the People Power Party (24.06 billion KRW), Han Mu-gyeong of the People Power Party (19.18 billion KRW), Jeong Woo-taek of the People Power Party (17.57 billion KRW), and Kang Ki-yoon of the People Power Party (12.02 billion KRW).

On the other hand, three members reported 'negative assets.' Jin Sun-mi of the Democratic Party reported -890 million KRW due to spouse debts, ranking lowest again since last year. Ahn Byung-gil of the People Power Party reported -140 million KRW, and Kim Min-seok of the Democratic Party reported -60 million KRW.

Meanwhile, the average assets of National Assembly members stand at 3.4347 billion KRW, slightly down by about 50 million KRW from last year's 3.48462 billion KRW. By party, the averages are 5.86559 billion KRW for the People Power Party (108 members), 2.0347 billion KRW for the Democratic Party (166 members), and 709.63 million KRW for the Justice Party (4 members). Excluding Ahn Cheol-soo and Park Deok-heum, who each reported assets exceeding 50 billion KRW, the average assets of the remaining 289 members amount to 2.77882 billion KRW.