[Public Official Asset Disclosure] Defense Minister Lee Jong-seop's Assets Total 2.4 Billion KRW... Increased by 170 Million KRW in One Month

Defense Minister Lee Jong-seop is attending the full meeting of the National Defense Committee held at the National Assembly on the 1st and is giving a work report. Photo by Yoon Dong-joo doso7@

[Asia Economy Military Specialist Reporter Yang Nak-gyu] Lee Jong-seop, Minister of National Defense, reported assets worth 2,481,130,000 KRW. Among these, real estate included an apartment in Jamsil-dong, Songpa-gu, Seoul (42.48㎡) jointly owned with his spouse valued at 810,500,000 KRW, and a commercial lease under his spouse's name worth 28,000,000 KRW, totaling 2,579,000,000 KRW. Compared to the reported amount of 2,311,520,000 KRW at the government's personnel hearing request on April 14 this year, the amount increased by 17,000,000 KRW in one month. The value of apartments jointly owned with his spouse in Songpa-gu (Jamsil), Seoul, and Yeongtong, Suwon, Gyeonggi Province rose, and deposits also increased by 13,000,000 KRW in one month.

According to the May appointment high-ranking public official asset registration announced by the Government Ethics Committee on the 26th, Minister of National Defense Lee Jong-seop reported total assets of 2,481,130,000 KRW including his own, his spouse's, and his second daughter's assets.

The minister himself owns an apartment in Yeongtong-gu, Suwon, Gyeonggi Province (469,000,000 KRW) in addition to the Jamsil apartment in Songpa-gu, Seoul, jointly owned with his spouse. Among these, the Jamsil apartment is currently leased as a jeonse (long-term deposit lease) for 588,000,000 KRW.

Previously, when Minister Lee was the deputy chief of the Joint Chiefs of Staff, he lived in a government residence in Yongsan-gu, Seoul, and rented out both apartments, drawing criticism for enjoying special privileges known as the ‘government residence tech.’ The Jamsil apartment currently owned is different from the one during his time as deputy chief, but he still remains a multi-home owner.

The minister reported deposits (124,780,000 KRW), stocks (11,450,000 KRW), and an Audi Q5 vehicle (49,480,000 KRW). His spouse reported deposits (95,780,000 KRW) and stocks (109,820,000 KRW). The eldest daughter did not report assets due to independent livelihood, while the second daughter reported deposits (5,460,000 KRW) and stocks (36,330,000 KRW).

Lee Gi-sik, Commissioner of the Military Manpower Administration, registered a total of 1,419,950,000 KRW combining an apartment in Suji, Yongin, Gyeonggi Province (214.00㎡) owned by him and his spouse valued at 1,017,740,000 KRW, and a 74.90㎡ officetel in Naesu-dong, Jongno-gu, Seoul under his name worth 212,400,000 KRW. He evaluated three vehicles under his name, including a 2020 Mercedes-Benz, at a total of 78,060,000 KRW. The deposits reported by Commissioner Lee, including those of his spouse and mother, totaled 449,160,000 KRW.

All three heads of the defense and veterans affairs ministries appointed in the first month of the Yoon Seok-yeol administration own two or more apartments or officetels combined in the Seoul metropolitan area’s regulated zones and hold deposit balances worth several hundred million KRW.

Deputy Minister of National Defense Shin Beom-cheol registered assets totaling 2,546,890,000 KRW, combining an apartment in Bangbae-dong, Seocho-gu, Seoul (151.54㎡) with a publicly announced price of 2,450,000,000 KRW and deposits of 217,140,000 KRW.

High-ranking officials from the Moon Jae-in administration who retired with the new government generally saw an increase in assets compared to the regular report at the end of last year. Former Minister of National Defense Seo Wook reported an increase of 34,600,000 KRW from 889,030,000 KRW at the end of last year to 983,160,000 KRW. Former Commissioner of the Veterans Affairs Office Hwang Gi-cheol reported 1,926,000,000 KRW, an increase of 92,600,000 KRW from the end of last year, and former Commissioner of the Military Manpower Administration Jeong Seok-hwan reported 1,147,200,000 KRW, an increase of 38,540,000 KRW.

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