Based on Public Data: Asset Concentration in Areas Like Gangnam Confirmed
Declining Policy Credibility Amid Senior Officials' Controversial Remarks
A new website that reveals the actual real estate holdings of high-ranking public officials is drawing attention. The online service, 'RealSignal,' was created based on publicly disclosed asset information of senior officials.
RealSignal contains asset details for approximately 7,000 individuals, including the president, members of the National Assembly, ministers and vice ministers, senior judges and prosecutors, and military generals. Users can utilize the search function to check the real estate, deposits, stocks, and virtual assets held by specific individuals.
The site is notable for its visualized presentation of information. Unlike the previous system, which only provided asset disclosure data in text form, users can now intuitively grasp the locations of assets, such as the residences and investment areas of actual policymakers.
Online Service Visualizing High-Ranking Officials' Asset Information 'RealSignal'. RealSignal Capture
Upon accessing the site, users are presented with a map-based interface showing the number of officials who own real estate in specific areas. In particular, it is immediately apparent that assets are concentrated in areas such as Gangnam, Seocho, and Yeouido in Seoul. For example, 176 officials are shown to own apartments in Seocho-dong, 117 in Daechi-dong, and 73 in Yeouido-dong.
The composition of assets is also visualized. For example, President Lee Jaemyung's total assets of 3.1 billion won are shown as consisting of 33% buildings and 27% deposits, among other categories. In terms of stock holdings, Samsung Electronics, Kakao, Naver, Hyundai Motor, and major U.S. big tech companies (Tesla, Apple, Nvidia) are identified as preferred stocks. Regarding virtual assets, approximately 800 officials hold Bitcoin and 700 hold Ripple, with some reported under the names of spouses or children.
Analysts suggest that recent declines in public trust in policy, due to real estate-related gaffes by high-ranking officials and lawmakers, are the reason such a service is attracting attention.
Previously, on October 19, First Vice Minister of Land, Infrastructure and Transport Lee Sangkyung appeared on a YouTube channel and, while explaining the October 15 real estate measures, remarked, "People are stressed because they are trying to buy a house now," and "If the market stabilizes and prices fall, you can buy then." Afterward, it was revealed that Vice Minister Lee's spouse had previously engaged in gap investing (purchasing homes with existing tenants), which sparked controversy.
In response, on October 23, Vice Minister Lee issued a formal apology via the Ministry of Land, Infrastructure and Transport's YouTube channel, stating, "I failed to fully appreciate the perspective of citizens striving to achieve the dream of home ownership," and expressed his intention to resign on October 24. President Lee Jaemyung reportedly approved the dismissal the following day.
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