[2024 Asset Disclosure] Jo Seong-myeong, Gangnam District Mayor, Reports 48.9 Billion KRW, Ranked 2nd Overall

Mun Heon-il, Guro-gu Mayor, 19.6 Billion KRW · Park Gang-su, Mapo-gu Mayor, 8.1 Billion KRW

Joseongmyeong, Mayor of Gangnam District.

Jo Seong-myeong, the mayor of Gangnam District Office in Seoul, reported assets worth approximately 48.9 billion KRW, the highest among all basic local government heads nationwide. Among the total 1,975 high-ranking public officials subject to asset disclosure, he holds the second largest amount of assets.

According to the 2024 regular asset change report for public officials, published on the 28th by the Government Ethics Committee in the official gazette, Jo's assets at the end of last year amounted to 48.90887 billion KRW. This is a decrease of 4.34668 billion KRW compared to the previous report.

Most of Mayor Jo's assets were in real estate. He reported land under his and his spouse's names totaling 12.584 billion KRW in Seoul's Gangnam and Seocho districts, as well as in Incheon’s Ganghwa and Chungnam’s Dangjin areas. Buildings including apartments and officetels were valued at 34.822 billion KRW. Besides his Gangnam apartment, he declared about 70 properties such as officetels, neighborhood living facilities, medical facilities, and lodging facilities under his name, and 10 lodging and mixed-use buildings under his spouse's name.

One year ago, at the time of the previous asset disclosure, Mayor Jo's assets were 53.25556 billion KRW, ranking first among all public officials subject to disclosure. However, due to fluctuations in land and building values caused by a decline in official land prices over the year, his assets decreased by 1.8298 billion KRW, and an additional 2.51687 billion KRW reduction occurred due to stock blind trusts and other factors.

Among Seoul district mayors, Moon Heon-il of Guro District Office reported the third highest assets among basic local government heads with 19.63446 billion KRW, and Park Gang-su of Mapo District Office reported the sixth highest with 8.11638 billion KRW. In the previous report, Mayor Moon's assets were 14.85322 billion KRW, but the valuation of his unlisted stocks increased by nearly 5 billion KRW.