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[Asia Economy Reporters Ji Yeon-jin and Gu Chae-eun] It has been confirmed that nominee for Financial Services Commission Chairman, Ko Seung-beom, purchased an apartment in Apgujeong-dong, Seoul, and then his wife and children moved to a nearby apartment under false registration to secure elementary school placement for their children.


According to the nomination hearing request submitted by the government to the National Assembly on the 12th, Ko owns one unit of the Shinhyundai Apartment (185.92㎡, 55 pyeong) in Apgujeong-dong, Seoul, together with his wife. This apartment was actually traded for 5.75 billion KRW in January this year amid high expectations for reconstruction. Ko declared the official land price of 3.46 billion KRW in his asset disclosure for this hearing.


According to the certified copy of the register, Ko purchased this apartment in September 2000 while working at the Asian Development Bank (ADB) in Manila, Philippines. Ko worked at ADB for two years from September 1998 to October 2001, and after returning to Korea, he registered his residence at Shinhyundai Apartment with his wife and two sons on November 5, 2001. This was about a year after the apartment sales contract.


Subsequently, Ko’s wife moved with their two sons to the nearby Hyundai 10th Apartment in March 2002. The entire family except Ko himself moved their residence to a nearby apartment just five months after moving into the new house.


Also, Ko and his wife moved their residence within the Guhyeondae (Hyundai 5th) Apartment three times until 2010, starting with a move in February 2003. Afterward, from September 2014, they lived on a lease basis for five years at Mido Apartment in Daechi-dong, Gangnam-gu, Seoul, and then in September 2019, they moved back to their own Shinhyeondae Apartment. Except for right after purchasing the apartment, they effectively rented out their own home and lived on a lease for 16 years.



Ko’s side explained that his wife and two sons moved their residence to a relative’s house nearby in 2002 to secure their eldest son’s elementary school placement, and that the children lived on a lease basis until finishing high school. Ko said, "I sincerely apologize for the parts in the past where I was not thoughtful from the perspective of the public."


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

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