Average Wealth of Newly Elected Officials Drops to 1.35 Billion Won

In the June 3 local elections, the average wealth reported by 563 newly elected officials was 1.3542 billion won, a decrease of over 200 million won compared to the average for newly elected officials in the 2022 local elections.

On September 29, the Government Public Officials Ethics Committee released the wealth registration details of 1,259 individuals, including those elected in the June 3 elections. This disclosure included 563 newly elected officials, 586 retired elected officials, and 110 non-elected public officials. The positions included 13 heads of metropolitan governments, 9 education superintendents, 98 heads of local governments, and 443 members of metropolitan councils.

Among the positions, education superintendents reported the highest average wealth at 2.1052 billion won. Following them were heads of metropolitan governments with an average of 1.9939 billion won, heads of local governments at 1.69738 billion won, and members of metropolitan councils at 1.24434 billion won.

Among the elected officials, the highest reported wealth was by Choi Gi-young, the mayor of Bonghwa County in Gyeongsangbuk-do, who declared approximately 34.92 billion won. His report included 32.1 billion won in stocks held in his and his family's names, along with properties such as an apartment in Bonghwa County, a leasehold in the Tower Palace in Dogok-dong, Seoul, and other properties worth over 3.5 billion won, as well as 1.8 billion won in deposits.

Among metropolitan leaders, Ulsan Mayor Kim Sang-wook reported the highest wealth at over 5.02 billion won, followed by Daegu Mayor Choo Kyung-ho at approximately 4.28 billion won and Gyeonggi Province Governor Choo Mi-ae at 3.61 billion won.

In the education sector, Gyeongnam Education Superintendent Kwon Soon-ki reported 10.36 billion won, while among metropolitan council members, Seoul City Council member Yoon Yu-jin reported 15.64 billion won.

Additionally, the wealth of key non-elected public officials was also disclosed. At the Blue House, Park Ji-young, the Secretary for Judicial Affairs, reported 9.21 billion won; Seong Gi-hong, the Chief of Public Relations, reported 8.66 billion won; and Han Chan-sik, the Chief of Civil Affairs, reported 5.86 billion won.

Park's wealth included approximately 6.7 billion won in real estate, consisting of apartments in Seocho-gu and Yongsan-gu, along with land in Gunsan, Gimje, and Wanju worth about 2.4 billion won in securities.

Seong reported an apartment in Daechi-dong and a property in Yangcheon-gu owned by his mother. Han reported a leasehold in Gangnam-gu and a commercial property in Bucheon, Gyeonggi Province, valued at over 5.2 billion won.

Other notable disclosures included Lee Ho-jung, a standing committee member of the Truth and Reconciliation Commission, with over 10.5 billion won; Kwon Man-hak, head of the Korea Institute for National Unification, with 8.3 billion won; Seo Seung-mi, head of the National Gugak Center, with 5.4 billion won; and Lim Jae-man, head of the Korea Research Institute for Human Settlements, with 3.5 billion won.

The Government Public Officials Ethics Committee's wealth disclosure is based on the assets held by the individual, their spouse, and direct descendants as of July 1, including real estate, deposits, and stocks. Officials who maintained their positions and were re-elected are excluded from this disclosure. The wealth of local council members will be disclosed separately by the respective local public officials' ethics committees.

The Government Public Officials Ethics Committee will review the wealth reports of the disclosed individuals over the next three months. If necessary, the review period may be extended by an additional three months. Individuals found to have made false reports or significant omissions may face warnings, corrective actions, or fines.