[Public Official Asset Disclosure] Hong Nam-gi Reports 1.47 Billion KRW in Assets... Apartment Gains and More Increase by 400 Million KRW in One Year

2021 Regular Asset Disclosure of Senior Public Officials

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Strategy and Finance Photo by Yonhap News

[Sejong=Asia Economy Reporter Son Seon-hee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, reported owning assets totaling 1.472 billion KRW as of the end of last year. Including capital gains from apartment sales, his assets increased by 404.9 million KRW in one year. Hong, who was previously a multi-homeowner, became a single-homeowner after selling one of his apartments last year.

According to the high-ranking public officials' asset disclosure details released through the government official gazette by the Government Public Officials Ethics Committee on the 25th, Hong reported these assets last year. Most of the increase in assets came from capital gains on apartment sales.

Last year, Hong sold an apartment located in Uiwang-si, Gyeonggi Province for 920 million KRW, earning a capital gain of 306.3 million KRW. He currently holds a pre-sale right for a residential-commercial complex in Naseong-dong, Sejong (with two intermediate payments totaling 241.86 million KRW).

Although he escaped the label of 'multi-homeowner' by selling the apartment, Hong, who previously lived in a jeonse (long-term lease) house worth 630 million KRW in Yeomni-dong, Mapo-gu, Seoul, moved to a nearby jeonse house in Singongdeok-dong worth 850 million KRW. The jeonse price rose by over 200 million KRW, directly reflecting the surge in jeonse prices last year.

Additionally, Hong reported owning land totaling 74.848 million KRW, including a forest area (18,767㎡) in Dong-myeon, Chuncheon-si, Gangwon Province, jointly owned with his mother, and farmland (348.10㎡) in Gyuyam-myeon, Buyeo-gun, Chungnam Province, owned by his spouse.

Due to capital gains from apartment sales and other factors, the total deposits held by Hong and his family increased by 352.048 million KRW to 574.114 million KRW compared to the previous report.

Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, reported assets totaling 2.239 billion KRW, an increase of 164.96 million KRW from last year. Kim also shed the multi-homeowner label by gifting part of a single-family house in Bukahyeon-dong, Seodaemun-gu, Seoul (worth 267.5 million KRW), inherited by his spouse from her father, to his mother. However, the publicly announced price of the Seocho Raemian Apartment in Seocho-dong, Seocho-gu, Seoul, jointly owned by Kim and his spouse, rose by 317 million KRW in one year to 1.253 billion KRW.

Kim reported owning land worth 235.13 million KRW, including four forest plots (totaling 8,150㎡) in Geumgok-dong, Namyangju-si, Gyeonggi Province, and one forest plot (14,077㎡) in Napo-myeon, Gunsan-si, Jeonbuk Province. The land in Namyangju-si is near the Wangsuk district, selected as part of the 3rd New Town development.

However, the Ministry of Economy and Finance explained that this land was purchased by Kim's father-in-law in 1967 and was jointly inherited (one-fourth share) by Kim's spouse and other children after the father-in-law's death in January 2018. Since the land was traded decades ago, it is difficult to consider it speculative investment aimed at the 3rd New Town designation in December 2018.

Ahn Il-hwan, Second Vice Minister of the Ministry of Economy and Finance, reported assets totaling 864.72 million KRW, an increase of 71.18 million KRW from last year. He is a single-homeowner with an apartment in Bundang-gu, Seongnam-si, Gyeonggi Province, valued at 617 million KRW.

Ahn Do-geol, Director of the Budget Office at the Ministry of Economy and Finance, reported total assets of 2.57269 billion KRW. A significant portion of his assets is real estate, including an apartment in Gaepo-dong, Gangnam-gu, Seoul, jointly owned with his spouse, reported at 884.16 million KRW reflecting intermediate payments. The apartment he currently resides in, located in Bangbae-dong, Seocho-gu, Seoul, saw its jeonse price rise by 80 million KRW in one year, reported at 1.05 billion KRW.

Lim Jae-hyun, Director of the Tax Policy Office, reported assets totaling 1.80493 billion KRW, an increase of 186.59 million KRW from last year. The increase is attributed to the sale of stocks following his promotion to director (grade 1), with total sales exceeding 30 million KRW. He reported deposits increased by 159.1 million KRW to 450.71 million KRW after selling most family-held stocks, including his own 800 shares of Celltrion. Additionally, the apartment jointly owned with his spouse in Seocho-dong, Seocho-gu, Seoul, was reported at 1.75 billion KRW.

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