As of the end of last year, high-ranking government officials had an average of 1.6 billion won in wealth. The increase was more than 160 million won in one year, and the main reason was the rise in asset prices, including real estate and stocks.
On the 31st, the Government Official Ethics Committee published ‘Public Officials’ Regular Property Changes in 2022′ through the Electronic Official Gazette. As of December 31 of last year, 1,978 high-ranking public officials including government officials belonging to the administration, provisional grades of senior civil servants, presidents of national universities, heads of public service-related organizations, heads of metropolitan/basic local governments, members of metropolitan and provincial superintendents of education, etc. , the property details of lineal ascendants and descendants.
According to the report, the average reported property was 1.621.45 million won. By owner, the property of the public official was 824.39 million won, his spouse 637.86 million won, and his lineal ascendant and descendants were 159.19 million won. It was found that 53.3% of public officials owned more than 1 billion won in assets.
This property report increased by 166.29 million won from the previous year (1.455.16 million won). The proportion of public officials whose wealth increased during this period reached 83% (1,641 people). As a result of analyzing the factors of property fluctuations, the committee revealed that the increase in property due to the increase in the official price of housing and land and stock price was 95.27 million won, accounting for 57.3% of the total net increase. The increase in net wealth due to salary savings, inheritance, and receipts was KRW 71.01 million (42.7%).
The public official with the largest increase in wealth was Lee Kang-seop, head of the Legislative Council, who reported an increase of 23.166 billion won from the previous year to 35.66 billion won. Next, Lim Jun-taek, chairman of the National Fisheries Cooperative Federation (Seahyup), and Hwang Gyu-bok, a member of the Seoul Metropolitan Government, took second and third places with an increase in wealth of 13.9 billion won and 9.5 billion won, respectively.
Based on this report, the committee plans to intensively review the changes in public officials’ property by the end of June this year. In the process, if a case of omission or false description of property intentionally or grossly negligently, or a case of obtaining property benefits by using secrets learned in the course of the job, etc. Subjects may be subjected to warnings and corrective actions, fines for negligence, requests for resolutions on dismissal/discipline, requests for investigation by related organizations, etc., depending on the degree of violation. The committee said, “In order to realize a trustworthy public service society, we will induce and support public officials’ faithful registration of property, and strictly examine the registered property.”
Taekyung Woo reporter [email protected]