Kyungsillyeon: "Yoon Government Ministers and Vice Ministers Average Assets of 3.2 Billion KRW... 8 Times the Average of Ordinary Citizens"

Minister with the Most Assets is Minister Lee Jong-ho of the Ministry of Science and ICT... 16.04 Billion KRW
Top 1st and 2nd Real Estate Assets Held by Minister and Vice Minister of the Ministry of Justice
16 Ministers and Vice Ministers Suspected of Real Estate Rental Activities

[Asia Economy Reporter Gong Byung-sun] A civic group has announced a survey revealing that the average wealth of ministers and vice ministers in the Yoon Seok-yeol administration reaches 3.2 billion KRW. Concerns about conflicts of interest were also raised, as 16 ministers and vice ministers were found to hold excessive real estate or stocks worth over 30 million KRW.

On the 6th, the Citizens' Coalition for Economic Justice (CCEJ) announced the analysis results of the assets held by 41 ministers and vice ministers of the Yoon administration at the CCEJ auditorium in Jongno-gu, Seoul. The Minister of Education and the Minister of Health and Welfare were excluded from the survey as they had not been appointed at the time of the investigation.

The average wealth per minister and vice minister in the Yoon administration was 3.26 billion KRW, which is eight times higher than the average household asset of the public (410 million KRW). The average wealth per minister was 3.88 billion KRW, and per vice minister was 2.86 billion KRW.

The wealthiest among the ministers and vice ministers was Minister Lee Jong-ho of the Ministry of Science and ICT, holding approximately 16.04 billion KRW. Following him were Vice Minister Lee Nogong of the Ministry of Justice (6.42 billion KRW), Second Vice Minister Lee Do-hoon of the Ministry of Foreign Affairs (5.98 billion KRW), Minister Lee Gi-soon of the Ministry of Gender Equality and Family (5.6 billion KRW), and Second Vice Minister Jo Yong-man of the Ministry of Culture, Sports and Tourism (5.12 billion KRW).

Regarding real estate assets, Vice Minister Lee Nogong of the Ministry of Justice held the largest amount, approximately 6.31 billion KRW. Minister Han Dong-hoon of the Ministry of Justice followed with real estate assets worth 5.31 billion KRW. Other ministers and vice ministers with significant real estate holdings included First Vice Minister Bang Gi-seon of the Ministry of Economy and Finance (4.62 billion KRW), Second Vice Minister Lee Do-hoon of the Ministry of Foreign Affairs (4.39 billion KRW), and Minister Lee Sang-min of the Ministry of the Interior and Safety (3.6 billion KRW).

A total of 16 ministers and vice ministers were suspected of engaging in rental activities due to excessive real estate ownership. According to the National Public Service Act, public officials are prohibited from engaging in profit-making activities and holding concurrent positions.

Seven ministers and vice ministers owning two or more houses include ▲ Minister Park Jin of the Ministry of Foreign Affairs ▲ Minister Lee Jong-seop of the Ministry of National Defense ▲ Vice Minister Yoo Je-cheol of the Ministry of Environment ▲ Vice Minister Lee Nogong of the Ministry of Justice ▲ Vice Minister Jang Sang-yoon of the Ministry of Education ▲ First Vice Minister Jo Hyun-dong of the Ministry of Foreign Affairs ▲ Vice Minister Han Chang-seop of the Ministry of the Interior and Safety. Five ministers and vice ministers owning non-residential buildings are ▲ Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy ▲ Minister Han Dong-hoon of the Ministry of Justice ▲ Vice Minister Kim Ki-woong of the Ministry of Unification ▲ First Vice Minister Bang Gi-seon of the Ministry of Economy and Finance ▲ Vice Minister Lee Gi-il of the Ministry of Health and Welfare. Four ministers and vice ministers owning land include ▲ Minister Park Bo-gyun of the Ministry of Culture, Sports and Tourism ▲ Vice Minister Kwon Ki-seop of the Ministry of Employment and Labor ▲ Vice Minister Lee Gi-soon of the Ministry of Gender Equality and Family ▲ First Vice Minister Jeon Byung-geuk of the Ministry of Culture, Sports and Tourism.

There were also indications of underreporting real estate assets. The total declared value of 43 apartments owned by 36 ministers and vice ministers was 57.32 billion KRW, while the market value totaled 83.54 billion KRW. The market value reflection rate was only 69%. The minister or vice minister with the largest discrepancy between declared value and market value was First Vice Minister Jo Hyun-dong of the Ministry of Foreign Affairs, with a difference of approximately 2.48 billion KRW. Ministers Han Dong-hoon and Lee Sang-min, as well as Vice Ministers Lee Nogong and Lee Do-hoon, also underreported by more than 1 billion KRW.

There were 16 ministers and vice ministers holding stocks worth over 30 million KRW, who are obligated to sell or place their stocks in blind trusts. According to the public official stock blind trust system, public officials holding stocks worth over 30 million KRW under the names of direct relatives must sell them or entrust them to others. Among stockholders, Minister Kim Hyun-sook of the Ministry of Gender Equality and Family (980 million KRW), Minister Lee Young of the Ministry of SMEs and Startups (2.02 billion KRW), and Vice Minister Lee Gi-soon of the Ministry of Gender Equality and Family (1.26 billion KRW) held unlisted stocks. The CCEJ pointed out that "special monitoring is necessary for public officials holding unlisted stocks."

The CCEJ stated, "There is a possibility of conflicts of interest arising from excessive real estate and stock holdings," and added, "Due to excessive real estate and stock holdings, there are doubts about whether the ministers and vice ministers of the Yoon administration can fully devote themselves to public service."

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