Kim Minseok Explains Asset Increase: "No Excessive Income Outside Official Salary, Including Book Publication Events"

From Minus 577 Million Won to Plus 215 Million Won: The Background Explained
Support from Mother-in-law and Book Publication Event Income Detailed
"Not Excessive by Social Standards for My Age," Kim Stresses

Prime Minister nominee Kim Minseok stated on the 24th regarding allegations about his assets, "Other than my official salary, my income consisted of congratulatory or condolence money, proceeds from two book publication events, and some living expense support from my mother-in-law."

Kim made this explanation during his confirmation hearing at the National Assembly, addressing suspicions that his assets had increased over the past five years despite his expenditures exceeding his income.

Yonhap News Agency

Kim reported a negative net worth of 577 million won at the end of 2019, but as of 2025, he stated that he holds 215 million won. During this period, he spent 620 million won on additional tax payments, 200 million won on donations, as well as other living expenses. This means his expenditures exceeded his income, yet his assets increased.

Regarding congratulatory and condolence money, Kim said, "By the general standards of society, the customs of people my age, and the events that take place within the National Assembly, the amounts were not excessive." He added, "While I am grateful for all the amounts, there were no cases where the sums were excessive." He also addressed claims that he had accumulated several hundred million won in cash during the confirmation hearing preparation process, explaining, "Income other than my official salary was received in small amounts, distributed over the years, and was spent as it came in."

Meanwhile, Kim commented on former Prime Minister Han Ducksoo, stating, "I will take him as a negative example." He criticized, "Former Prime Minister Han lacked the sense of responsibility and dignity befitting his position, neglected the deterioration of people's livelihoods, and did not show any sign of bowing his head or accepting responsibility despite numerous mistakes, including the declaration of martial law."