"Assets of 6.5 Billion Won
Accumulated Through Earned Income and Retirement Pay"
Kim Jeonggwan, the nominee for Minister of Trade, Industry and Energy, stated that he would use the high-tariff negotiations with the United States as an opportunity to establish a roadmap for manufacturing cooperation between South Korea and the U.S., going beyond simply resolving the trade deficit. He also expressed his intention to pursue an energy policy that achieves a practical balance between renewable energy and nuclear power.
On July 14, in a written response to the National Assembly for his confirmation hearing, Kim said, "The United States is interested in addressing trade imbalances and eliminating non-tariff barriers. We also need to consider ways to respond in terms of regulatory rationalization and institutional advancement."
He added, "While our goal is to achieve mutually beneficial outcomes, we will use this as an opportunity for our core industries to advance. The tariff negotiations will serve as the foundation for a manufacturing cooperation roadmap that deepens strategic collaboration between the two countries."
He continued, "As the global supply chain is being reorganized and technological hegemony competition intensifies, organic cooperation in industry, trade, and energy is crucial. I will do my utmost to serve as a 'frontline leader' in securing export competitiveness for Korea's key industries and pioneering new markets."
Regarding energy policy, he announced plans to simultaneously expand renewable energy and foster the nuclear power industry. Kim stated, "Expanding the supply of renewable energy is essential for achieving carbon neutrality, ensuring energy security, and securing export competitiveness. We will dramatically improve conditions for supply, including identifying new sites, grid connection, and enhancing public acceptance, and will also increase the government budget."
On nuclear power, he said, "As a carbon-free energy source, nuclear power is essential for achieving the national greenhouse gas reduction target and ensuring stable electricity supply. We will implement a practical energy mix through a harmonious combination with renewable energy." Kim particularly noted plans to pursue the development of small modular reactors (SMRs) and next-generation nuclear fuel technology, as well as to expand entry into overseas nuclear power markets, including the Czech Republic, Vietnam, Saudi Arabia, and Turkiye.
Kim also explained the process of asset formation for himself and his spouse. He said, "Over approximately 32 years of public and private sector service, I have accumulated assets totaling about 6.5 billion won. I have faithfully fulfilled notification obligations under the Public Service Ethics Act, and all income and assets have been acquired through legitimate sources such as earned income, retirement pay, and consulting fees."
Currently, the nominee holds about 3.4 billion won in assets, while his spouse holds around 3.1 billion won. Both are understood to each own a 50% share of an apartment located in Songpa-gu, Seoul. Kim stated, "To ensure transparency in the process of asset formation, I will submit tax filings as well as relevant supporting documents if necessary."
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