Controversy Over US Treasury Investment: Choi Sang-mok Says "Purchased Based on Passive Portfolio Recommendation"

National Assembly Judiciary Committee Impeachment Hearing on the 16th
Choi: "I Bought as Recommended, but Was Not Meticulous"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, stated that he purchased U.S. Treasury bonds in August last year based on a recommendation for a conservative portfolio amid controversy over U.S. Treasury investment.

Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, is speaking at the hearing on the "Impeachment Investigation of Minister of Economy and Finance Choi Sang-mok" held on April 16 at the National Assembly's Legislation and Judiciary Committee. 2025.4.16 Photo by Kim Hyun-min

On the 16th, during the impeachment investigation hearing held by the National Assembly's Legislation and Judiciary Committee, when Park Beom-gye of the Democratic Party asked about the purchase of U.S. Treasury bonds, Deputy Prime Minister Choi said, "The financial institution officer recommended a conservative portfolio operation that involved converting foreign currency deposits held since 2018 when I was a civilian into foreign currency government bonds."

Deputy Prime Minister Choi added, "It is unrelated to exchange rate fluctuations," and said, "I bought as recommended but did not manage it meticulously." When asked about the timing of the bond purchase, he replied, "August last year."

According to the '2025 Regular Asset Change Report for Public Officials' disclosed by the Government Official Ethics Committee on the 27th of last month, Deputy Prime Minister Choi reported holding a 30-year maturity bond product worth approximately 197.12 million KRW.