Cho Kuk Reports 5.34 Billion KRW in Assets at Retirement... Decrease of 120 Million KRW in 10 Months

Former Minister of Justice Cho Kuk

[Asia Economy Reporter Son Sunhee] Former Minister of Justice Cho Kuk reported assets totaling 5,348,590,000 KRW at the time of his retirement in October last year. This amount is 12,786,000 KRW less than the declared amount during the regular asset disclosure in March last year (based on the end of 2018) when he served as Senior Secretary for Civil Affairs at the Blue House.

According to the ad hoc asset disclosure announced by the Government Official Ethics Committee on the 31st, Cho Kuk declared these assets, marking the highest amount among retirees subject to this ad hoc disclosure.

The Cho family’s deposits decreased by 255,370,000 KRW. While Cho’s personal deposits increased by 162,590,000 KRW, deposits under his wife Professor Jeong Gyeongshim’s name decreased by 421,060,000 KRW. Cho stated that the decrease in deposits was due to "expenses such as attorney fees, hospital bills, and living costs."

The controversial investment of 1,050,000,000 KRW in Kolink Private Equity (950,000,000 KRW by Professor Jeong, 50,000,000 KRW by their eldest son, and 50,000,000 KRW by their eldest daughter) remained unchanged.

Real estate assets including apartments and commercial buildings held by the Cho family increased by 128,000,000 KRW to 1,877,590,000 KRW. This change reflects the value fluctuation of an apartment in Bangbae-dong, Seocho-gu, Seoul, owned by Cho Kuk.

Among current officials, former Ambassador to the United States Cho Yoon-je reported the highest assets at 5,802,140,000 KRW upon his return in October last year. The value of buildings owned by him and his spouse, including a detached house and an apartment in Irwon-dong, Gangnam-gu, Seoul, owned by his mother, increased by 254,920,000 KRW.

Following him were Visit Kyu, President of the Export-Import Bank of Korea (5,116,810,000 KRW), and Park Heung-kyung, Ambassador to Cambodia (2,467,640,000 KRW).

Among retirees, after former Minister Cho Kuk, former Chairman of the Central Labor Relations Commission Park Joon-sung (3,649,770,000 KRW) and former Deputy Mayor for Culture and Economy of Gwangju Lee Byung-hoon (2,518,900,000 KRW) followed.

The individuals subject to this ad hoc asset disclosure were 25 current and former high-ranking officials who experienced personnel changes between October 2 and November 1 of last year.

This content was produced with the assistance of AI translation services.