[Public Officials' Asset Disclosure] Average Wealth of BOK Monetary Policy Committee Members is 4.8 Billion KRW... Some Have Assets Exceeding 8 Billion KRW

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] It has been revealed that the average assets of the seven members of the Financial Monetary Policy Committee of the Bank of Korea, who determine the country's base interest rate, amount to approximately 4.8 billion KRW. A significant number of the members possessed assets exceeding 5 billion KRW, and one member had assets exceeding 8.4 billion KRW.

According to the high-ranking public officials' asset change report disclosed by the Government Public Officials Ethics Committee on the 25th, the average assets of the seven Monetary Policy Committee members, including the Bank of Korea Governor and Deputy Governor, were 4,794,420,000 KRW.

The member with the highest assets among the Monetary Policy Committee members was Im Ji-won, a former JP Morgan employee, who reported 8,438,580,000 KRW.

This was an increase of 515,020,000 KRW compared to last year, with most of the increase coming from deposits. The deposits of Mr. Im and his spouse grew from 6,620,620,000 KRW last year to 7,098,030,000 KRW this year. Their deposits held in commercial banks, savings banks, and credit unions alone exceeded 7 billion KRW.

The total real estate assets, including the Samsung Raemian apartment in Dowon-dong, Yongsan-gu, Seoul (114.99㎡, 833 million KRW), amounted to 1,209,150,000 KRW. Mr. Im reported that he and his spouse inherited a multi-family house in Sangsu-dong, Mapo-gu, Seoul (350 million KRW) but sold it in February this year.

Jo Yoon-je, who joined the Monetary Policy Committee in April last year, had total assets of 6,224,720,000 KRW, an increase of 268,900,000 KRW since his appointment.

Mr. Jo and his spouse owned land worth 1,127,640,000 KRW, including land in Pyeongchang-dong, Jongno-gu, Seoul (367㎡, 876,760,000 KRW) and forest land in Gomae-dong, Giheung-si, Gyeonggi Province (305㎡, 159,400,000 KRW). The assessed value of owned buildings, including a detached house in Bukahyeon-dong, Seodaemun-gu, Seoul (701㎡, 2,275,000,000 KRW), reached 2,848,000,000 KRW. Notably, deposits surged from 1,035,120,000 KRW to 2,234,830,000 KRW, an increase of about 1.2 billion KRW. Mr. Jo explained that this was because he sold all the stocks he held, which had been controversial at the time of his appointment, and converted them into deposits.

Seo Young-kyung, the first female executive (Deputy Governor) of the Bank of Korea who rose to the Monetary Policy Committee, was also an asset holder with 5,138,350,000 KRW. This was an increase of 125,280,000 KRW compared to the amount reported at the time of her appointment.

Reported assets included buildings worth 1,944,410,000 KRW, such as the Woosung 4 Apartment in Dogok-dong, Gangnam-gu, Seoul (157.74㎡, 1,822,000,000 KRW), and deposits of 2,275,900,000 KRW.

Joo Sang-young, also appointed in April last year, held assets totaling 3,899,560,000 KRW, including land such as forest land in Paldal-myeon, Hwaseong-si, Gyeonggi Province worth 276,370,000 KRW, buildings including the Bangbae 3rd e-Pyeonhansesang Apartment in Bangbae-dong, Seocho-gu, Seoul (202.48㎡, 1,924,000,000 KRW) under his spouse's name worth 2,854,000,000 KRW, and deposits of 740,660,000 KRW.

In the case of Ko Seung-beom, he jointly owned the Shinhyundai Apartment in Apgujeong-dong, Gangnam-gu, Seoul (182.95㎡, 2,895,000,000 KRW) with his spouse. The total building assets, including the commercial share of the Good Morning City Shopping Mall building in Euljiro 6-ga, Jung-gu, Seoul (3.5㎡, 43,138,000 KRW) gifted to his spouse, amounted to 2,938,140,000 KRW.

Additionally, Mr. Ko owned land worth 174,550,000 KRW in Okgu-eup and Seosu-myeon, Gunsan-si, Jeonbuk, and Hongbuk-myeon, Hongseong-gun, Chungnam. Adding deposits and others worth 1,867,060,000 KRW, Mr. Ko's total reported assets amounted to 5,025,370,000 KRW, an increase of 737,290,000 KRW compared to a year ago.

Furthermore, Bank of Korea Governor Lee Ju-yeol had assets of 3,556,470,000 KRW, an increase of about 400 million KRW, and Deputy Governor Lee Seung-heon held assets worth 1,277,920,000 KRW. Bank of Korea Auditor Jeong Ho-hyun's assets were 2,137,670,000 KRW. He jointly owned an apartment in Hanteul Village 3 Complex, Eojin-dong, Sejong City (118㎡, 677 million KRW) with his spouse.

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