Three New BOK Monetary Policy Committee Members Hold Real Estate Assets Worth 10 Billion KRW

Average Wealth is Approximately 5 Billion KRW

Lee Ju-yeol, Governor of the Bank of Korea, is taking a commemorative photo at the inauguration ceremony for new Monetary Policy Committee members held on April 21 at the Bank of Korea headquarters in Jung-gu, Seoul. From the left in the photo are Yoon Myeon-sik, Deputy Governor of the Bank of Korea; Seo Young-kyung; Joo Sang-young, new members; Lee Ju-yeol, Governor of the Bank of Korea; Cho Yoon-je; Ko Seung-beom, new members; and Lim Ji-won, Monetary Policy Committee member. [Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] The real estate assets of the three new members of the Financial Monetary Policy Committee of the Bank of Korea, which sets South Korea's monetary policy including the base interest rate, amounted to a total of around 10 billion KRW. The average assets are worth approximately 5 billion KRW.

According to the high-ranking public officials' asset registration published in the government gazette by the Public Service Ethics Committee on the 31st, at the time of their appointment in April, Commissioner Cho Yoon-je reported assets worth 5.96 billion KRW, Commissioner Seo Young-kyung reported 5.01 billion KRW, and Commissioner Joo Sang-young reported 3.83 billion KRW. Their average assets amount to about 4.93 billion KRW.

The majority of their assets are real estate, with the three reporting real estate assets totaling 10 billion KRW.

Commissioner Cho reported nearly 4 billion KRW in real estate, including forest land in Giheung-gu, Yongin-si, Gyeonggi-do, land in Pyeongchang-dong, Jongno-gu, Seoul, and a detached house in Bukahyeon-dong, Seodaemun-gu. The deposits reported by Commissioner Cho exceed 1 billion KRW.

Commissioner Cho's recently disclosed asset report included stocks worth about 920 million KRW in three non-financial small and medium-sized enterprises, but these have all been disposed of. Due to issues related to the stocks he held, Commissioner Cho voluntarily recused himself from the Monetary Policy Committee meeting on May 28 and did not attend.

Commissioner Seo, the Bank of Korea's first female executive (Deputy Governor), reported real estate assets worth approximately 2.6 billion KRW, including an apartment in Dogok-dong, Gangnam-gu, and shares in a building in Yeoksam-dong. The deposits reported, including those held by her spouse and second son, amount to about 2.4 billion KRW.

Commissioner Joo, a former professor at Konkuk University, reported real estate assets worth 3.3 billion KRW, including forest land in Paldal-myeon, Hwaseong-si, Gyeonggi-do, factory sites, and an apartment in Bangbae-dong, Seocho-gu.

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