High-ranking South Korean government officials have disclosed their personal assets, with the total wealth reported by 73 individuals exceeding 2.8 trillion Korean Won (approximately $2.1 billion USD). The disclosures, made public by the Government Public Service Ethics Committee on the 21st, cover officials who experienced changes in their employment status, such as appointments, promotions, or resignations, between May 2nd and June 1st.
Noh Sung-chul Leads Disclosures with Significant Holdings
Among the prominent figures is Noh Sung-chul, Director of the National Policy Coordination Office, who reported assets amounting to 2.77 billion Korean Won (approximately $2.1 million USD). Noh, previously known for his role as a lawyer in a legal case involving President Lee Jae-myung, declared assets under his name, his spouse, and his daughters. The largest portion of Noh’s reported wealth is attributed to his property in Olympic Park Foreon, Duncheon-dong, Gangdong-gu, Seoul, valued at 1.55 billion Korean Won ($1.18 million USD). Additional assets include deposits totaling 775 million Korean Won ($587,000 USD) and stocks in companies like Samsung Electronics (900 shares) and Mirae Asset Securities (767 shares), collectively valued at 438 million Korean Won ($332,000 USD).
Diverse Asset Portfolios Among Public Servants
The asset declarations reveal a wide range of holdings among senior public officials. For instance, Kim Geun-seong, a senior member of the Fair Trade Commission, reported assets of 751 million Korean Won ($569,000 USD). His portfolio includes properties such as a 6th-floor unit in Gaon Village, Dajeong-dong, Sejong, a 전세 (leasehold) on Gaepo Jaipresident, Gangnam-gu, Seoul, and a 1st-floor unit in Handdle Village, Eojin-dong, Sejong, with a total building value of 105 million Korean Won ($79,500 USD). He also holds deposits amounting to 277 million Korean Won ($209,000 USD) and liabilities of 521 million Korean Won ($394,000 USD).
Moon Jae-ho, an investigator at the Anti-Corruption & Civil Rights Commission, declared substantial assets totaling 3.13 billion Korean Won ($2.37 million USD). His holdings are primarily in real estate, including properties in Doremi Village, Dodam-dong, Sejong, and the Hyundai Apartment in Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi Province, valued at 1.6 billion Korean Won ($1.21 million USD). Deposits constitute another significant portion, amounting to 1.52 billion Korean Won ($1.15 million USD).
Transportation and Aviation Sector Officials Report High Valuations
Jeong Chae-gyo, Director of the Aviation Policy Division at the Ministry of Land, Infrastructure and Transport, reported the highest declared assets among those listed, totaling 3.97 billion Korean Won ($3 million USD). The majority of Jeong’s wealth, approximately 3.74 billion Korean Won ($2.83 million USD), is in real estate. His property holdings include units in Jugong Apartment Complex 8, Burim-dong, Gwacheon-si, Gyeonggi Province, Hansol-dong Cheotmaeul Apartment, Sejong, and commercial properties in Naseong-dong, Sejong.
Shin Seong-hwan, former Chairman of the Financial Services Commission, declared assets of 6.97 billion Korean Won ($5.28 million USD). His significant real estate holdings include apartments in Raemian Chellitus, Ichon-dong, Yongsan-gu, Seoul, and LG Hangang Jaia Apartment, valued at 4.32 billion Korean Won ($3.28 million USD). Deposits account for an additional 1.76 billion Korean Won ($1.33 million USD).
Health and Fair Trade Officials Also Disclose Substantial Wealth
Lee Sran, former Commissioner of the Ministry of Food and Drug Safety, reported assets totaling 4.71 billion Korean Won ($3.57 million USD). Her real estate portfolio, valued at 2.98 billion Korean Won ($2.26 million USD), includes apartments in Trijiuim, Jamsil-dong, Songpa-gu, Seoul, and a 4th-floor unit in Handdle Village, Eojin-dong, Sejong. Deposits amounted to 1.14 billion Korean Won ($863,000 USD).
Choi Young-geun, former Chairman of the Korea Fair Trade Mediation Board, disclosed assets of 2.94 billion Korean Won ($2.23 million USD). His reported wealth includes 1.41 billion Korean Won ($1.07 million USD) in deposits and 1.27 billion Korean Won ($962,000 USD) in real estate. The properties include leasehold rights for Cheongsol Maeul Seongwon in Geumgok-dong, Bundang-gu, Seongnam-si, Gyeonggi Province, and an officetel in Yonghyeon-dong, Michuhol-gu, Incheon.
Yoo Sung-wook, a former investigator at the Anti-Corruption & Civil Rights Commission, reported assets of 2.14 billion Korean Won ($1.62 million USD). His holdings consist of real estate valued at 2.23 billion Korean Won ($1.69 million USD), primarily an apartment in Jamsil Elst, Jamsil-dong, Songpa-gu, Seoul. He also reported deposits of 194 million Korean Won ($147,000 USD) and liabilities of 330 million Korean Won ($250,000 USD).
These disclosures are part of a routine process for senior public officials in South Korea, ensuring transparency and accountability in government service. The reported figures represent the total declared net worth of these individuals and their immediate families.
