[National Assembly Members' Asset Disclosure] Property Changes in People Power Party Leadership 'Polar Opposites'... Joo Ho-young's Assets Increase by 870 Million Won

National Assembly Public Officials Ethics Committee to Release '2021 Regular Asset Change Report' on the 25th

Joo Ho-young, floor leader of the People Power Party, is attending the party strategy meeting held at the National Assembly on the 23rd and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kum Bo-ryeong] The property changes among the leadership of the People Power Party last year showed extreme contrasts. Floor leader Joo Ho-young's assets increased by about 870 million KRW over one year, while emergency committee member Seong Il-jong's assets decreased by approximately 13.2 billion KRW.

According to the 2021 regular property change disclosure announced by the National Assembly Public Officials Ethics Committee on the 25th, Floor Leader Joo's declared assets increased by 872.31 million KRW from 3.53483 billion KRW last year to 4.07064 billion KRW.

Specifically, the jointly owned apartment in Banpo-dong, Seocho-gu, Seoul, held by him and his spouse, increased in value by 463.99 million KRW from 2.784 billion KRW last year to 3.24799 billion KRW.

Additionally, deposits and securities among the assets of his eldest son, which were previously exempt from disclosure, increased by 155.962 million KRW and 178.384 million KRW respectively last year.

In the case of Kim Seong-won, the floor deputy leader, his overall assets increased by 81.424 million KRW, including an increase of 52.897 million KRW in deposits in a political fund account used for income and expenditure under the Political Funds Act.

Policy Committee Chairman Lee Jong-bae's assets also rose by 425.055 million KRW. Notably, his apartment in Gaepo-dong, Gangnam-gu, Seoul, increased in value by over 300 million KRW from 1.04 billion KRW last year to 1.366 billion KRW. Deposits in his political fund account increased by 94.912 million KRW to 111.854 million KRW due to increased donations.

Emergency committee member Kim Mi-ae's assets increased by 652.987 million KRW. This was attributed to the sale of an apartment in Haeundae, Busan, rental income from commercial properties, and salary savings, which led to an increase in deposits.

Emergency committee member Seong Il-jong's assets decreased by 13.275442 billion KRW over one year. His total assets dropped from 20.954999 billion KRW last year to 7.679557 billion KRW. According to Seong's side, this occurred because, under the Public Officials Ethics Act, when private debts are not repaid within the deadline, the amount is converted into stocks, causing such changes. Seong's personal bonds decreased by 15 billion KRW from 17.13 billion KRW last year to 2.13 billion KRW, while securities increased by about 1.8 billion KRW, including an increase of 1,529,391 shares of unlisted stock in N-BioCons.

Seong's side explained, "Seong, who was the CEO and largest shareholder of N-BioCons, sold his shares, but the buyer failed to pay, so the shares were returned to him. When registering assets, the valuation of unlisted stocks follows a set calculation method rather than actual transaction prices, which caused the stock price not to reflect the original price and led to a decrease in bonds."

Meanwhile, 298 members of the National Assembly reported their property changes from January 1 to December 31 of last year (or from the date of first disclosure if newly disclosed last year) by the 2nd, in accordance with Article 6 of the Public Officials Ethics Act.

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