Lee Jae-myung Omits 500 Million Won Bond in Asset Report... Will Submit Explanation Documents (Update)

[Asia Economy Reporter Dongwoo Lee] It has been confirmed that Gyeonggi Province Governor Lee Jae-myung omitted the declaration of bonds worth 505 million won in his 2020 regular asset change report disclosed on the 26th.

According to the 2020 regular asset change report released by the Government Public Officials Ethics Committee on the same day, Governor Lee declared assets worth 2.3298 billion won, showing a decrease of 521.7 million won compared to the previous year's declaration.

He reported an increase in assets due to the value change (about 130 million won) of a 164.25㎡ apartment jointly owned by himself and his spouse located in Seongnam City, and a 42.46㎡ apartment owned by Governor Lee’s late mother located in Gunpo City. He also reported a decrease in assets due to increased expenditures on deposits and insurance (a decrease of about 920 million won) owned by himself and his spouse.

In response, Governor Lee’s side belatedly recognized the omission of bonds worth 505 million won in this asset declaration and plans to submit explanatory materials to the Ministry of Personnel Management later.

If these bonds had been properly declared, Governor Lee’s reported assets would have decreased by about 15 million won compared to the previous year.

However, due to the omission of the bond declaration, it was publicly revealed that the assets decreased by about 520 million won compared to the previous year’s declaration, effectively resulting in an underreporting of assets.

The Ministry of Personnel Management plans to provide Governor Lee with an opportunity to explain whether the omission was intentional and then make a judgment.

In the review of asset declarations, false or insincere reports will be examined for the degree of violation, and measures such as supplementing the report, issuing warnings and corrective actions, imposing fines, and requesting disciplinary actions will be taken.

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