[2024 Asset Disclosure] Choi Ji-young, Director of International Economic Management at Ministry of Economy and Finance, 49.4 Billion KRW... Overall 1st Place

"Jo Seong-myeong, Gangnam District Mayor, 48.9 Billion KRW, 2nd Place"

Among the 1,975 high-ranking public officials who disclosed their assets this year, the individual with the largest wealth was Choi Ji-young, Director of International Economic Management at the Ministry of Strategy and Finance, with assets totaling 49.45 billion KRW. Last year's top asset holder, Jo Seong-myeong, Mayor of Gangnam District, who had 48.9 billion KRW, ranked second this year.

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

Most of Director Choi’s reported wealth consisted of unlisted stocks owned by his spouse. He held approximately 44.53 billion KRW worth of shares in construction companies Jeil Punggyeongchae (23,748 shares) and Punggyeongchae (200,000 shares). The couple also jointly owned an apartment in Apgujeong, Seoul, valued at 3.4 billion KRW.

Jo Seong-myeong, Mayor of Gangnam District, who ranked first last year, reported assets totaling 48.9 billion KRW this year, a decrease of 4.34 billion KRW from the previous report, placing him second. Mayor Jo declared land under his and his spouse’s names worth 12.58 billion KRW and buildings worth 34.88 billion KRW in areas including Gangnam and Seocho in Seoul, Ganghwa in Incheon, and Dangjin in Chungnam.

He owns dozens of properties, including 39 officetels in Ilsan, Goyang, Gyeonggi Province, and Sokcho, Gangwon Province, 28 commercial properties in Ilsan (21 neighborhood living facilities and 7 medical facilities), and 8 lodging facilities in Ganghwa. He also holds private bonds worth 10.04 billion KRW.

Byun Pil-geon, Chief Prosecutor at Suwon High Prosecutors’ Office, ranked third with total assets of 43.88 billion KRW. Prosecutor Byun owns buildings worth approximately 10.9 billion KRW under his spouse’s name, including an apartment in Hannam-dong, Yongsan District (9.3 billion KRW), a commercial property in Yongdap-dong, Seongdong District (250 million KRW), and a lodging facility pre-sale right in Seorak-myeon, Gapyeong County, Gyeonggi Province (400 million KRW).

Regarding the Hannam-dong apartment, Prosecutor Byun explained that the reported value increased by 2.84 billion KRW from last year’s 6.46 billion KRW because the declaration was changed to reflect the actual transaction price.

Ranking fourth in total assets was Kim Dong-jo, Secretary for National Planning at the Presidential Office and a former analyst, who reported 32.93 billion KRW. Among the 40 senior aides at the secretary level or above in the Presidential Office, Secretary Kim declared the highest assets, which increased by a staggering 21.3 billion KRW compared to last year. Most of his wealth consisted of unlisted stocks he personally owned, valued at 31.96 billion KRW.

Other officials in the top 10 asset holders included Kim Seong-su, Gyeonggi Provincial Assembly member (25.96 billion KRW); Choi Kyung-sik, Mayor of Namwon (20.37 billion KRW); Moon Heon-il, Mayor of Guro District (19.63 billion KRW); Park Young-seo, Gyeongbuk Provincial Assembly member (18.99 billion KRW); Cha Sang-hoon, Chairman of Osong Advanced Medical Industry Promotion Foundation (18.14 billion KRW); and Yang Yong-man, Jeju Special Self-Governing Provincial Assembly member (17.91 billion KRW).

Choi Ji-young, Director General for International Economic Affairs at the Ministry of Economy and Finance (left), and Kanda Masato, Financial Bureau Director at the Japanese Ministry of Finance, are posing for a commemorative photo on the 8th at the Ministry of Finance in Tokyo, Japan. [Image source=Yonhap News]