Jeonbuk Province Discloses 'Public Officials' Asset Changes'

A Total of 201 People, Including Heads of Public Institutions and City and County Council Members

The Jeonbuk Special Self-Governing Province Public Officials Ethics Committee disclosed the 2025 regular property changes on the 27th through the Jeonbuk Special Self-Governing Province Gazette.

According to the province, the subjects of this disclosure are a total of 201 people, including 5 heads of public institutions affiliated with the province and 196 city and county council members. The disclosed information includes not only the individual but also the property changes of their spouses and direct lineal ascendants and descendants (excluding those who refused to disclose).

Jeonbuk Provincial Government Building. Provided by Jeonbuk Province

This disclosure was conducted based on the data reported by property registration obligors pursuant to Article 6 of the "Public Officials Ethics Act," covering property changes from January 1 to December 31, 2024, which were reported by the end of February. For those disclosing for the first time in 2024, changes from the date they became subject to disclosure until the end of the year were included.

According to the 2025 regular property change report, the average reported property amount for those subject to disclosure was approximately 790.83 million KRW, which is an increase of 16.79 million KRW compared to the previous year.

Looking at the distribution by property size, the largest group was those holding between 100 million and 500 million KRW, with 77 people (38.3%), followed by those holding between 500 million and 1 billion KRW, with 61 people (30.3%). There were 20 people (10%) holding over 2 billion KRW.

The main reasons for increases included inheritance of assets, reduction of debts, increases in asset values such as stock prices, and savings from salaries (income). Reasons for decreases included declines in officially announced land prices, expenditures for living and education, and refusal to disclose previously reported assets.

The Jeonbuk Provincial Public Officials Ethics Committee plans to conduct a thorough review of the reported details by the end of June (with a possible three-month extension if necessary) through electronic data inquiries with the Ministry of Land, Infrastructure and Transport, the National Tax Service, and financial institutions.

If anyone is found to have made false reports or omitted assets due to gross negligence, or to have gained unfair property benefits by using confidential information obtained in the course of their duties, strong measures such as warnings and corrective actions, fines, public disclosure of false registration, dismissal, or disciplinary action will be taken.

A representative of the Jeonbuk Provincial Public Officials Ethics Committee stated, "We will thoroughly review the formation and changes of public officials' assets to ensure transparency and strive to create a public sector that earns the trust of the residents."

Meanwhile, the disclosure details of the 201 subjects can be found in the Jeonbuk Special Self-Governing Province Gazette on the 27th.

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