First-term Lawmakers' Average Real Estate Assets 1.1 Billion Won... One in Four Own Multiple Homes

[Image source=Yonhap News]

[Asia Economy Reporter Song Seung-yoon] The average real estate assets of first-term lawmakers in the 21st National Assembly were analyzed to be 1.1 billion KRW, which is four times higher than the national average. The average real estate assets of first-term lawmakers from the United Future Party were more than twice those of first-term lawmakers from the ruling Democratic Party of Korea, but the number of lawmakers owning houses in the four Gangnam districts of Seoul was higher on the Democratic Party side.

The Citizens' Coalition for Economic Justice (CCEJ) announced the results of the "Analysis of Real Estate Assets of 151 First-term Lawmakers in the 21st National Assembly" on the morning of the 16th. The analysis was based on data reported by each candidate when running for the National Assembly in March, and did not reflect any sales made after the general election.

According to the results, the total declared real estate assets of the 151 first-term lawmakers amounted to 176.8 billion KRW, averaging 1.17 billion KRW per person. Although this is less than the average of 2.18 billion KRW per lawmaker for the entire 21st National Assembly, it is four times the national average of 300 million KRW per person. The average real estate assets of first-term lawmakers from the United Future Party and the Future Korea Party were 1.85 billion KRW, more than twice the average of 780 million KRW for the Democratic Party and the Together Citizens' Party.

Among the 151 lawmakers, 26 were without housing, and 42 owned two or more houses. Seven owned three or more houses. Twenty-two first-term lawmakers owned houses in the four Gangnam districts of Seoul, with 14 belonging to the Democratic Party and 8 to the United Future Party. The total number of houses owned by the 151 first-term lawmakers was 173, of which 82 (47.4%) were in Seoul. Including Gyeonggi and Incheon, 119 houses (68.8%) were concentrated in the metropolitan area.

The first-term lawmaker with the highest real estate assets was Baek Jong-heon of the United Future Party, with 17.0118 billion KRW. He was followed by Kim Eun-hye (16.85 billion KRW) and Han Moo-kyung (10.35 billion KRW) of the same party. Kim Hong-gul of the Citizens' Party (7.64 billion KRW) and Ahn Byung-gil of the United Future Party (6.71 billion KRW) ranked fourth and fifth, respectively. Yang Jeong-sook of the Citizens' Party owns a total of three houses in the four Gangnam districts.

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