[Exclusive] Lawmakers Owning Land... Democratic Party Average 176 Million KRW, People Power Party 380 Million KRW

9 Democratic Party Members and 17 People Power Party Members Holding Over 500 Million Won

Prime Minister Jeong Sye-gyun is delivering a policy speech on the supplementary budget for the 4th disaster relief fund payment at the National Assembly plenary session on the 5th. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Park Cheol-eung] As of last year, it was revealed that more than half of the members of the National Assembly, totaling 155, owned land. The ruling and opposition parties have agreed to conduct a full-scale investigation into real estate speculation targeting all members of the National Assembly.

This is the result of an investigation on the 17th into the property lists of members who were announced by the National Assembly Public Officials Ethics Committee in March before last year's general election, members re-elected to the 21st National Assembly, and newly registered members disclosed in August. Land owned by spouses, parents, and children is also included.

Among the members, 88 from the Democratic Party of Korea accounted for 50.6% of the total 174 members, and 62 from the People Power Party accounted for 60.8% of the 102 members. Additionally, there were 2 from the Justice Party, 1 from the Open Democratic Party, and 2 independents. Members with land valued at over 100 million KRW numbered 43 in the Democratic Party and 31 in the People Power Party, roughly half of the land-owning members in each party.

The total land value held by Democratic Party members amounts to approximately 15.453 billion KRW, averaging about 176 million KRW per member. The People Power Party's total is about 23.587 billion KRW, with an average of 380 million KRW per member. Independent member Park Deok-heum, who left the People Power Party last year, was found to own land valued at around 21.3 billion KRW. Before his departure, the average for the People Power Party was about 714 million KRW.

Among People Power Party members, there are quite a few whose total land value exceeds 1 billion KRW. These include Baek Jong-heon (4.638 billion KRW), Kang Ki-yoon (2.018 billion KRW), Jeong Chan-min (1.527 billion KRW), Jo Myung-hee (1.316 billion KRW), Lee Joo-hwan (1.298 billion KRW), and Han Moo-kyung (1.071 billion KRW). From the Democratic Party, member Lim Ho-seon was found to own land valued at 1.072 billion KRW.

In the case of Baek Jong-heon, he and his children owned land such as lots and paddies in Busan, his electoral district, as well as multiple lots, forest land, and paddies in Yangsan, Gyeongnam, and Ulju-gun, Ulsan. Kang Ki-yoon owned numerous orchards, lots, and forest land in Changwon, Gyeongnam, his electoral district, under his and his spouse's names.

Members with a total land value of over 500 million KRW include 9 from the Democratic Party and 16 from the People Power Party.

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