Gyeonggi Province Governor Choo Mi-ae reported total assets of 3.6976 billion won as of July 1, marking a significant increase of approximately 900 million won in just six months. According to the Government Public Official Ethics Committee’s disclosure regarding newly elected officials from the June 3 local elections, Choo’s wealth grew from 2.79641 billion won reported in May to her current standing, placing her as the third wealthiest among 13 regional heads of local governments.
The surge in Governor Choo’s net worth is attributed primarily to investment gains. A representative for Choo stated that after securing a lease for an apartment in Hanam, she sold a previous apartment in Gwangjin-gu and invested the majority of those proceeds into funds, which saw gains due to a bullish stock market.
Breakdown of Governor Choo Mi-ae’s Asset Growth
The timeline of Choo’s financial disclosures reveals a steady upward trajectory over the first half of the year. In May, during her candidacy registration for the governor’s race, her assets (as of December 31 of the previous year) were listed at 2.79641 billion won. By the time of her resignation from the National Assembly on April 29, that figure rose to 3.31445 billion won, eventually reaching 3.6976 billion won upon her inauguration as governor on July 1.
Her current portfolio consists of 1.05247 billion won in real estate—including a leased apartment in Hanam and an officetel in Yeouido, Seoul—and 2.46505 billion won in cash deposits.
| Reporting Milestone | Date Basis | Reported Amount |
|---|---|---|
| Candidate Registration | Dec 31 (Prev Year) | 2.79641 Billion Won |
| National Assembly Resignation | April 29 | 3.31445 Billion Won |
| Governor Inauguration | July 1 | 3.6976 Billion Won |
Comparative Wealth Among Gyeonggi Officials
Governor Choo’s holdings are high compared to the average for regional heads, which stands at 1.99339 billion won. She trails only Ulsan Mayor Kim Sang-wook, who reported 5.02459 billion won, and Daegu Mayor Chu Kyung-ho, who reported 4.28118 billion won.
In the education sector, Gyeonggi Education Superintendent Ahn Min-seok reported assets of 1.81559 billion won. This includes 406.97 million won in buildings, such as an apartment in Osan owned by his spouse, 787.42 million won in deposits, and 75.13 million won in securities. Among nine newly elected education superintendents, Ahn ranks second in wealth, behind Gyeongsangnam-do Education Superintendent Kwon Soon-ki, who reported 10.36806 billion won. The average for these superintendents is 2.10152 billion won.
Wealth Extremes in Local and Provincial Government
The disclosures also highlighted significant disparities among basic local government heads and provincial assembly members. Among 10 basic local government heads, Gunpo Mayor Han Dae-hee reported the highest assets at 3.1501 billion won, while Yangju Mayor Jeong Deok-young reported the lowest at 294.9 million won.
Within the Gyeonggi Provincial Assembly, the range was even more drastic. Among 87 members, Lee Seong-won reported the most with 6.5414 billion won, followed by Choi Mi-geum (5.94429 billion won) and Han Un-ok (5.07357 billion won). Conversely, assembly member Kim Seung-gi reported a negative balance of minus 105.7 million won.
