[Public Officials' Asset Disclosure] Heads of Financial Public Institutions Average 3.3 Billion KRW... 137% Compared to All Public Officials

Moon Sung-yoo, President of Korea Asset Management Corporation

[Asia Economy Reporter Song Seung-seop] It has been found that the average wealth of heads of financial public enterprises and public institutions is 3.35217 billion KRW, which is 137% higher than that of other public officials subject to disclosure.

According to the '2021 Regular Asset Changes of Senior Public Officials' disclosed by the Government Ethics Committee through the official gazette on the 25th, the assets of heads of organizations under the Financial Services Commission (Deposit Insurance Corporation, Korea Asset Management Corporation (KAMCO), Credit Guarantee Fund, and Korea Inclusive Finance Agency) amounted to 13.40869 billion KRW.

They held an average wealth of 3.35217 billion KRW, more than twice the 1.41297 billion KRW reported by all public officials. The asset growth rate was also steeper at 12.78%, compared to the overall 10.29%.

The individual with the highest wealth was Moon Seong-yu, president of KAMCO, who reported assets of 4.60799 billion KRW, an increase of 672.28 million KRW from the previous year. Although real estate assets decreased, the significant increase in deposit assets accelerated the asset growth rate compared to the previous year’s increase of 592.86 million KRW.

More than half of the assets were in deposits, totaling 2.44177 billion KRW, nearly an 84% increase from the previous year's 1.32064 billion KRW. The deposits in his name increased by 114% to 339.19 million KRW, while his spouse held 916.02 million KRW, and his father and mother held 567.02 million KRW and 597.24 million KRW, respectively.

Real estate assets decreased by 483.05 million KRW for land and 164.14 million KRW for buildings. He reported an increase of 71.52 million KRW in the pre-sale value of his apartment (84.51㎡) in Seocho-gu to 1.373428 billion KRW, but sold an apartment (84.90㎡) in Sejong City and farmland (1325.00㎡) in Jeju owned by his mother. The sale amounts were 496.87 million KRW and 246 million KRW, respectively.

Baek Wi-sung, President of the Korea Deposit Insurance Corporation

Wi Seong-baek, president of the Deposit Insurance Corporation, reported assets of 3.82617 billion KRW, an increase of 621.41 million KRW. Building assets increased by 467.98 million KRW to 3.1268 billion KRW, accounting for most of the total. This was due to changes in the value of buildings owned by him and his spouse in Seoul and Jeonnam.

Securities assets decreased by 207.17 million KRW to about 9.39 million KRW, as corporate bonds held to repay financial debts were sold. Using the funds raised, he repaid 212.8 million KRW borrowed from Kookmin Bank, reducing his debt to 109.7 million KRW, a 67.81% decrease.

Yoon Dae-hee, Chairman of the Korea Credit Guarantee Fund

Yoon Dae-hee, president of the Credit Guarantee Fund, recorded assets of 3.42504 billion KRW, an increase of 118.64 million KRW from the previous year. His assets consisted entirely of buildings, deposits, and securities, with no land or debts. Building assets of 2.208 billion KRW increased as the price of an apartment (226.44㎡) in Yongsan-gu, Seoul, co-owned by him and his spouse, rose, increasing their assets by 1.104 billion KRW each.

Deposits were reported as 499.43 million KRW in his name, and 289.8 million KRW and 337.82 million KRW by his spouse and eldest son, respectively.

Lee Gye-moon, President of the Korea Inclusive Finance Agency

The individual with the smallest asset size and growth was Lee Gye-moon, president of the Korea Inclusive Finance Agency, who reported assets of 1.54947 billion KRW, an increase of 103.74 million KRW. Of this, building assets accounted for 1.421 billion KRW. The rent for the apartment (114.60㎡) in Yongsan-gu, Seoul, where he lives on a lease, increased, and he purchased an apartment (114.75㎡) in Mapo-gu, Seoul, under joint ownership with his spouse, resulting in a total increase of 921 million KRW.

Deposits decreased from 849.01 million KRW to 254.3 million KRW due to deposit cancellations during the payment of the contract and intermediate payments for the purchased apartment. The shortfall in intermediate payments was covered by loans, increasing his debt by 188.13 million KRW.

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