[2020 National Audit] "Kim Jong-gap, KEPCO CEO, Holds Stocks Worth 3.43 Billion Won"

Rep. Lee Joo-hwan of the People Power Party Analyzes Ministry of Industry Data

Kim Jong-gap, President of Korea Electric Power Corporation (left), Jung Jae-hoon, President of Korea Hydro & Nuclear Power, and Yoo Hyang-yeol, President of Korea South-East Power Co., Ltd., attended the National Assembly's Industry, Trade, Energy, Small and Medium Business Committee's audit on Korea Electric Power Corporation and related entities on the 15th, engaging in conversation. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Moon Chaeseok] It has been revealed that Kim Jong-gap, CEO of Korea Electric Power Corporation, holds stocks worth 3.43 billion KRW.

On the 15th, Lee Joo-hwan, a member of the National Assembly’s Industry, Trade, Energy, Small and Medium Enterprises Committee from the People Power Party, announced this after analyzing the 'Stock Holdings and Transaction Details of Employees of the Ministry of Trade, Industry and Energy and Its Affiliated Organizations' data submitted by the Ministry of Trade, Industry and Energy.

CEO Kim held a total of approximately 3.43499 billion KRW in stocks, including 2.12522 billion KRW held personally and 1.30973 billion KRW held by his spouse.

The holdings include 191,000 shares of Brazilian government bonds (BNTNF), 7,339 shares of Siemens stock where he served as CEO and chairman, and 39,200 shares of Chinese solar company Xinyi Solar Holdings, among others.

In addition, he held stocks across various industries such as U.S. oil fund, online shopping malls, fashion groups, biotech, wind turbine companies, and funeral service companies.

Although CEO Kim held stocks related to his duties, the amounts were below 30 million KRW, so according to the Public Officials Ethics Act, holding them itself is not problematic. Stocks managed through wrap accounts (integrated asset management services) were also confirmed to be under 30 million KRW per stock, thus not subject to duty-related scrutiny, Lee explained.

Lee said, "Many of the stocks held by CEO Kim are overseas stocks, so they are not subject to sale or blind trust under the Public Officials Ethics Act, meaning there is no legal violation," but added, "It draws attention given the case of Justice Lee Mi-seon of the Constitutional Court and her spouse, who faced controversy over excessive stock investments."

Among executives of the Ministry of Trade, Industry and Energy and its affiliated organizations, 30 executives including CEO Kim held stocks, with their total stock holdings amounting to approximately 4.96 billion KRW.

Yoon Ui-sik, standing auditor of Korea National Oil Corporation, held 581.9 million KRW, Son Joo-seok, director of Korea Petroleum Management Service, 273.2 million KRW, Lee Kyung-sil, vice president of Korea District Heating Corporation, 177.32 million KRW, and Lee Cheong-ryong, chairman of Korea Mine Reclamation Corporation, 125.35 million KRW, in that order.

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