[National Assembly Members' Asset Disclosure] Average Real Estate Assets of Land Committee Members: Ruling Party 1.09 Billion KRW, Opposition 3.9 Billion KRW

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] The average real estate assets (combined reported current value of land and buildings) of 18 Democratic Party of Korea lawmakers belonging to the Land, Infrastructure and Transport Committee, which handles real estate issues such as the ‘LH scandal,’ were investigated to be around 1.096 billion KRW. The average real estate assets of 10 People Power Party lawmakers on the committee were calculated to be around 3.92 billion KRW.

On average, opposition party lawmakers on the Land Committee have about 2.8 billion KRW more in real estate assets than ruling party lawmakers. Lawmakers owning apartments such as Eunma and Mido, known as the leading reconstruction properties in Gangnam-gu, also stood out.

For reference, the real estate listed in lawmakers’ asset declarations can be reported based on the ‘officially announced land price,’ so the price differs considerably from the ‘market price.’

According to the ‘21st Regular Asset Change Declaration Public List’ released by the National Assembly Public Officials Ethics Committee on the 25th, the asset details of 30 lawmakers belonging to the Land Committee were disclosed. The total assets including land, buildings, deposits, debts, and memberships of 18 Democratic Party members, 10 People Power Party members, 1 Justice Party member, and 1 Open Democratic Party member were revealed.

Among the 29 Land Committee members excluding lawmaker Kim Jin-ae, whose resignation was approved the previous day, the person with the highest reported real estate assets was People Power Party lawmaker Kim Eun-hye, who declared real estate assets worth approximately 17.164 billion KRW. Next were her party colleagues Kang Ki-yoon and Song Eon-seok, followed by Democratic Party lawmaker Kim Hoe-jae and People Power Party lawmaker Lee Heon-seung.

Lawmaker Kim Eun-hye reported a building in Daechi-dong, Gangnam, Seoul, under her spouse’s name with a current value of 15.86 billion KRW, a 1 billion KRW row house in Nonhyeon-dong, Gangnam, also under her spouse’s name, and a forest land worth over 1 billion KRW in Goyang City under her spouse’s name. Combining land and buildings, Kim declared total real estate assets of 17.1 billion KRW.

Her party colleague Kang Ki-yoon declared total real estate assets of 6.1 billion KRW, including land worth 2.384 billion KRW in Changwon (orchard, forest land) and a factory under his spouse’s name worth 2.4 billion KRW. People Power Party lawmaker Song Eon-seok declared real estate assets worth 4.391 billion KRW, including Mido Apartments in Daechi-dong, Gangnam-gu, worth over 2 billion KRW under his and his spouse’s names.

Among Democratic Party Land Committee members, lawmaker Kim Hoe-jae declared the highest real estate assets, totaling 4.3 billion KRW, including an apartment in Jamsil-dong, Songpa-gu worth 1.3 billion KRW and Shindonga Apartments in Seobinggo-dong, Yongsan-gu worth 2.4 billion KRW.

Additionally, Democratic Party lawmaker Cho Eung-cheon, the ruling party’s secretary on the Land Committee, was found to own real estate assets worth about 2.9 billion KRW, including a 1.5 billion KRW Eunma Apartment in Gangnam. Democratic Party lawmaker Jin Sun-mi, chairperson of the Land, Infrastructure and Transport Committee, reported a jeonse right worth 350 million KRW, which is among the lower amounts among all Land Committee members.

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