21st First-Term Lawmakers, Average Assets 2.7 Billion KRW... United 4.9 Billion KRW, Democratic 1.2 Billion KRW, Justice 400 Million KRW

Top Tier is the United Future Party, Bottom Tier is the Democratic Party

[Image source=Yonhap News]

[Asia Economy Reporters Lim Chun-han and Jeon Jin-young] The average assets of first-term lawmakers in the 21st National Assembly were found to be 2.764 billion KRW. An analysis of the asset details of 149 first-term lawmakers from the 21st National Assembly’s new asset registrations, released by the National Assembly Public Officials Ethics Committee on the 28th, showed that the average assets of Future United Party lawmakers were the highest at 4.988 billion KRW. This was followed by the Democratic Party with 1.281 billion KRW, the Open Democratic Party with 1.228 billion KRW, and the Justice Party with 470 million KRW.

The average assets of first-term Future United Party lawmakers were 3.8 times higher than those of the Democratic Party and 12.2 times higher than those of the Justice Party. However, excluding Future United Party lawmakers Kim Eun-hye, Baek Jong-heon, Jeon Bong-min, and Han Mu-kyung, each with assets exceeding 20 billion KRW, the average assets drop to 1.917 billion KRW.

The top ranks in the first-term lawmakers’ asset rankings were all occupied by Future United Party lawmakers. The wealthiest was Jeon Bong-min of the Future United Party, who reported assets worth 91.414 billion KRW. The largest portion of Jeon’s assets consists of unlisted shares?10,000 shares of Ijin Housing and 58,300 shares of Dongsu Construction, where he served as CEO?with a current value of 85.873 billion KRW. Real estate holdings include an apartment in Suyeong-gu, Busan (5.8 billion KRW) and an apartment pre-sale right under his spouse’s name, totaling 7.3 billion KRW.

Han Mu-kyung, founder of Hyorim Industry and a Future United Party lawmaker (45.29 billion KRW), and Baek Jong-heon, former CEO of Baeksan Metal and Future United Party lawmaker (28.27 billion KRW), ranked second and third respectively. Han owns a neighborhood living facility worth 7.7 billion KRW in Seocho-gu, Seoul, and an apartment worth 1.7 billion KRW in Daegu. Baek reported owning 29 officetels in Geumjeong-gu, Busan. Following them were Kim Eun-hye, a former journalist and Future United Party lawmaker (21.032 billion KRW), and Lee Joo-hwan, former CEO of Seoho Urban Development and Future United Party lawmaker (11.736 billion KRW).

On the other hand, most of the lawmakers with the lowest asset rankings were from the Democratic Party. Kang Sun-woo, a former professor and Democratic Party lawmaker, recorded the lowest net assets at -488 million KRW, including financial debts and building lease debts of both herself and her spouse. Lee Kyu-min, former CEO of Anseong Newspaper and Democratic Party lawmaker, reported 2.75 million KRW; Jeon Yong-gi, a young entrepreneur and Democratic Party lawmaker, 5.36 million KRW; Choi Hye-young, the Democratic Party’s first talent recruit, 11.3 million KRW; and Yoon Young-duk, a former activist and Democratic Party lawmaker, 52.64 million KRW.

Additionally, Kim Hong-gul, the third son of former President Kim Dae-jung and Democratic Party lawmaker, was found to own real estate worth 8.168 billion KRW, including the DJ residence in Donggyo-dong and three houses?two apartments in Ilwon-dong, Gangnam-gu, and Banpo-dong, Seocho-gu?as well as commercial properties. Lee Yong-woo, former co-CEO of Kakao Bank and Democratic Party lawmaker, reported assets of 4.224 billion KRW, including an apartment in Gangnam-gu and bank deposits. Defectors Ji Seong-ho and Tae Yong-ho, lawmakers of the Future United Party, were confirmed to hold assets of 57.2 million KRW and 1.851 billion KRW respectively.

The asset declaration this time included not only first-term lawmakers but also those re-elected who were not members of the 20th National Assembly. However, Democratic Party lawmaker Hwang Un-ha and Open Democratic Party lawmaker Choi Kang-wook, affiliated with the National Police Agency and the Presidential Secretariat respectively, who reported asset changes in March, were not included in this declaration. Their assets will be disclosed next March as members of the National Assembly.

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