Analysis of 246 Local Council Members and Others
Average Reported Assets: Approximately 778 Million KRW
The Jeollanam-do Public Officials Ethics Committee disclosed the 2025 regular property change details for 246 individuals subject to property disclosure within its jurisdiction through the Jeollanam-do official gazette on the 27th.
The subjects of property disclosure include 5 heads of public institutions and 241 members of basic local government councils. The property disclosures for metropolitan and basic local government heads, metropolitan council members, and high-ranking officials are released by the Government Public Officials Ethics Committee through the Republic of Korea's official gazette.
This year, the average reported property amount for those subject to disclosure under the Jeollanam-do Public Officials Ethics Committee is 778.74 million KRW, an increase of 18.86 million KRW compared to the previous year's average.
Looking at the total reported property, 93 individuals (38% of the total) have between 100 million KRW and less than 500 million KRW, the largest group. There are 69 individuals who reported between 500 million KRW and less than 1 billion KRW. Six individuals reported having more debt than assets.
Among those subject to property disclosure, 161 individuals (66%) saw an increase in property, while 85 individuals (34%) experienced a decrease. The main reasons for property increases include rises in earned and business income. The reasons for decreases were found to be declines in publicly announced prices of land and buildings, reductions in reported property due to refusal to disclose or exclusion from registration, and so on.
Regarding property changes, 58 individuals (24% of the total) reported an increase of between 10 million KRW and less than 50 million KRW, the largest proportion. There were 36 individuals who reported an increase of 100 million KRW or more. On the other hand, 6 individuals reported a decrease of 500 million KRW or more in property.
The Jeollanam-do Public Officials Ethics Committee plans to complete the property review for those who reported property changes as of December 31 of the previous year by the end of June.
In order to meet public expectations regarding public service ethics, the committee will strengthen the review process for property formation, such as examining the circumstances of property acquisition, sources of funds, and purposes of fund usage, especially in cases where property increases or decreases excessively compared to income.
If a person required to register property makes false entries, or omits or misreports property due to gross negligence, corrective orders, warnings and corrective measures, or fines will be imposed in accordance with the Public Officials Ethics Act.
Those obligated to register property must report any changes in property from January 1 to December 31 each year by the end of February the following year, in accordance with Article 6 (Reporting of Changes) of the Public Officials Ethics Act. The Public Officials Ethics Committee must disclose the reported information of those subject to property disclosure within its jurisdiction within one month after the reporting period ends, in accordance with Article 10 (Disclosure of Registered Property) of the same Act.
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