Average Assets of Gyeonggi Province City and County Council Members and Public Institution Heads 1.20125 Billion KRW... Up 124.75 Million KRW from Previous Year

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The average assets of city and county council members and heads of affiliated public institutions in Gyeonggi Province amounted to 1.20125 billion KRW, showing an increase of 124.75 million KRW compared to last year.

The Gyeonggi Province Public Officials Ethics Committee disclosed on the 31st, through the Gyeonggi Province Gazette, the regular asset change reports of 451 city and county council members and heads of public-related organizations subject to asset disclosure within the province, in accordance with the "Public Officials Ethics Act" (Article 10).

The reported details are based on December 31, 2021, and include asset changes of the public officials themselves, their spouses, parents, and direct descendants.

The average assets per person among the 451 disclosed individuals were 1.20125 billion KRW, which is an increase of 124.75 million KRW from the previous year's average of 1.0765 billion KRW.

Among them, 344 individuals (76.3%) experienced an average asset increase of 222.9 million KRW, while 107 individuals (23.7%) saw an average decrease of 191.45 million KRW.

The reporters cited major reasons for the increase as the rise in officially announced land prices and debt reduction.

The Provincial Public Officials Ethics Committee plans to complete the review of the asset changes of these disclosed individuals by the end of June (within three months after disclosure).

During this review, the Ethics Committee will conduct a microscopic examination of the asset formation process, including acquisition circumstances, sources of funds, and usage, especially in cases where assets have increased or decreased excessively relative to income, to meet the heightened public expectations for public service ethics.

In particular, they will actively investigate whether there are any allegations of illicit asset accumulation related to official duties or violations of other laws.

A representative of the Provincial Public Officials Ethics Committee explained, "We will continue to operate the asset registration and review system strictly to realize a trustworthy public service society and establish a clean public service culture."

Meanwhile, among the public officials in Gyeonggi Province subject to asset disclosure, 178 high-ranking officials of grade 1 or higher under the jurisdiction of the Government Public Officials Ethics Committee, provincial assembly members, and mayors and county governors can be checked in the Government Gazette, while 451 executives of public-related organizations under the jurisdiction of the Gyeonggi Province Public Officials Ethics Committee and city and county council members can be found in the Gyeonggi Province Gazette.

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