[Asset Disclosure] Average Wealth of 471 Public Institution Heads and City/County Council Members in Gyeonggi-do is 1.18142 Billion KRW

The average assets of 471 heads of public institutions affiliated with Gyeonggi Province and city/county council members were recorded at 1,181.42 million KRW. This is an increase of 40.28 million KRW compared to the previous year (1,141.14 million KRW).

The Gyeonggi Province Public Officials Ethics Committee disclosed the regular asset change reports of 471 heads of public institutions and city/county council members affiliated with Gyeonggi Province on the 27th, in accordance with Article 10 (Disclosure of Registered Assets) of the Public Officials Ethics Act, through the Gyeonggi Province Gazette and the Public Officials Ethics System (www.peti.go.kr).

The disclosed information includes asset reports as of December 31, 2024, for the public officials themselves, their spouses, and direct ascendants and descendants.

By reported asset brackets, there were ▲40 people (8.5%) with less than 100 million KRW ▲142 people (30.1%) with 100 million to less than 500 million KRW ▲115 people (24.4%) with 500 million to less than 1 billion KRW ▲104 people (22.1%) with 1 billion to less than 2 billion KRW ▲70 people (14.9%) with 2 billion KRW or more. Those reporting assets under 1 billion KRW accounted for 63.1% of the total.

Gyeonggi Provincial Government

Compared to last year's reported amounts, 282 people (59.9%) showed an increase in assets, while 189 people (40.1%) showed a decrease.

The main reasons for asset increases were rises in publicly announced land prices compared to the previous year, debt reduction, and increases in the value of held assets such as virtual assets. Decreases were due to real estate sales, increased debt, and exclusion from registration for previously reported subjects (such as death or marriage of a direct descendant's daughter).

The Gyeonggi Province Public Officials Ethics Committee will review the asset change reports of those who disclosed assets by the end of June. In particular, they will focus on verifying cases of false asset registration, significant omissions or errors due to gross negligence, and acquisition of financial benefits by using confidential information obtained through official duties. If insincere asset reporting is confirmed based on this, warnings, corrective measures, and fines will be imposed in accordance with Article 8-2 (Handling of Review Results) of the Public Officials Ethics Act.

A representative of the Gyeonggi Province Public Officials Ethics Committee stated, "To meet the common sense of the residents and to realize a trustworthy public service society, we will encourage public officials to sincerely register their assets and strictly review the registered asset details."