[2019 National Settlement] The Most Valuable State-Owned Property: 12.2 Trillion KRW 'Gyeongbu Expressway' and Building 'Government Sejong Complex'

Government Reviews and Approves '2019 Fiscal Year National Settlement' at Cabinet Meeting

Gyeongbu Expressway (archival photo)

[Sejong=Asia Economy Reporter Lee Kwang-ho] Among the properties owned by the government, the most valuable asset was the Gyeongbu Expressway, worth over 12 trillion won. Among state-owned buildings, the Government Sejong Complex was the most valuable, and among goods, the supercomputer owned by the Korea Meteorological Administration was the most expensive.

According to the '2019 Fiscal Year National Settlement' approved at the Cabinet meeting on the 7th, the value of state-owned assets last year was 1,124.5 trillion won, an increase of 42.8 trillion won (4.0%) compared to the previous year.

Breaking down state-owned assets, land was the largest at 483.1 trillion won, followed by structures at 288.9 trillion won, securities at 267 trillion won, and buildings at 72.7 trillion won.

The value of state-owned assets surpassed 1,000 trillion won for the first time in history in 2016 and has continued to increase for three consecutive years.

Among state-owned buildings, intangible and tangible assets, and expressways, the most valuable asset was the Gyeongbu Expressway (Seoul to Busan) with a book value of 12.2087 trillion won.

The second most expensive expressway was the Seohaean Expressway (Seoul to Mokpo) at 6.8408 trillion won. The third was the Namhae Expressway (Busan to Suncheon) at 6.3168 trillion won.

The most expensive state-owned building was the first phase of the Government Sejong Complex, housing the Ministry of Strategy and Finance and the Fair Trade Commission, with a book value of 440 billion won. The second was the second phase of the Government Sejong Complex, used by the Ministry of Education and the Ministry of Trade, Industry and Energy, valued at 400.5 billion won. The combined book value of the first and second phases of the Government Sejong Complex reached 840.5 billion won. The third was the National Asia Culture Center in Gwangju City, valued at 300.9 billion won. The fourth was the Government Daejeon Complex (204.5 billion won), and the fifth was the National Assembly Members' Office Building (197.6 billion won).

Among national intangible assets, the highest valued was the '4th Generation National Customs Integrated Information Network' owned by the Korea Customs Service, with an acquisition cost of 100.7 billion won. This was followed by the 'Next Generation National Tax Administration System Phase 2' owned by the National Tax Service (69.4 billion won), and the Ministry of Strategy and Finance's 'Digital Budget Accounting System' (35.3 billion won).

Among goods owned by the state, the most expensive was the Korea Meteorological Administration's Supercomputer No. 5 (52 billion won), followed by the Ministry of the Interior and Safety's disaster warning system communication software I (18.7 billion won), and the Korea Customs Service's electronic customs clearance system server (17.6 billion won).

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