[22nd Asset Disclosure] Average Wealth of New National Assembly Members Approximately 2.7 Billion KRW... People Power Party 4.2 Billion KRW

Reform New Party 2.9 Billion · Joguk Reform Party 2.2 Billion · Democratic Party 1.8 Billion in Order

The average assets of newly elected members of the 22nd National Assembly were found to be approximately 2.7 billion KRW.

On the 15th, dark clouds gathered heavily over the National Assembly building. With the 22nd general election having concluded on the 10th, attention is focused on how the 21st National Assembly, with just over a month left in its term, will resolve pressing issues such as pension reform and the abolition of the financial investment tax. Photo by Hyunmin Kim kimhyun81@

On the 29th, the National Assembly Public Officials Ethics Committee disclosed the asset details of 147 newly registered members of the 22nd National Assembly. Their average assets amounted to about 2.681 billion KRW, which is 133 million KRW less than the approximately 2.814 billion KRW reported by 175 newly registered members of the 21st National Assembly. Compared to the approximately 3.421 billion KRW reported by 154 newly registered members of the 20th National Assembly, it decreased by about 740 million KRW.

The number of members reporting assets under 500 million KRW was 32, between 500 million and 1 billion KRW was 17, between 1 billion and 2 billion KRW was 38, between 2 billion and 5 billion KRW was 43, and over 5 billion KRW was 17. Among the 17 members who reported assets exceeding 5 billion KRW, 9 belong to the People Power Party. Next were the Democratic Party with 5 members, the Party for National Innovation with 2 members, and the Reform Party with 1 member.

The party with the highest average assets was the People Power Party, with 4.212 billion KRW. Following were the Reform Party with 2.976 billion KRW, the Party for National Innovation with 2.235 billion KRW, the Democratic Party with 1.837 billion KRW, and the Progressive Party with 354 million KRW. It was confirmed that Han Chang-min of the Social Democratic Party has debts amounting to approximately 158.73 million KRW.

According to the Public Officials Ethics Act, newly registered members must report their assets within two months from the start of their term, which was May 30. The Public Officials Ethics Committee must disclose the reported details within one month after the reporting period ends. This reporting includes not only first-term members but also those who were not members during the 21st National Assembly despite being re-elected or more.