Choi Sang-mok US Treasury Bond Holdings Controversy... Deputy Minister of Economy and Finance "Will Verify Conflict of Interest"

Controversy Arises Over Deputy Prime Minister Choi's U.S. Treasury Bond Holdings
Vice Minister Kim: "Final Confirmation Will Be Made by the Anti-Corruption and Civil Rights Commission"

On the 3rd, Kim Beom-seok, the 1st Vice Minister of the Ministry of Economy and Finance, said regarding the controversy over Deputy Prime Minister for Economy and Minister of Strategy and Finance Choi Sang-mok's holding of U.S. Treasury bonds, "We will have the Anti-Corruption and Civil Rights Commission, which is in charge of the Public Officials Conflict of Interest Prevention Act, make the final confirmation."

At an emergency question session held at the National Assembly that day, in response to Rep. Cha Gyu-geun of the Innovation Party's question, "Can you definitively say that Deputy Prime Minister Choi's investment in U.S. Treasury bonds is legally unproblematic?" Vice Minister Kim answered as above.

Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance. Photo by Yonhap News

During the National Assembly's urgent issue questioning that day, controversy arose over Deputy Prime Minister Choi's holding of U.S. Treasury bonds.

According to the "2025 Regular Asset Change Report for Public Officials" disclosed by the Government Public Officials Ethics Committee on the 27th of last month, Deputy Prime Minister Choi reported holding 30-year maturity bond products worth approximately 197.12 million KRW. The opposition party pointed out that Deputy Prime Minister Choi receives economic trend reports and raised suspicions of conflicts of interest and other issues.

Regarding Deputy Prime Minister Choi's purchase of U.S. Treasury bonds, Vice Minister Kim explained, "It is a change only in the situation of the dollars and U.S. Treasury bonds held continuously since 2018," adding, "He did not acquire new dollars to buy U.S. Treasury bonds."

He continued, "If he had bought dollars and then purchased U.S. Treasury bonds, there might have been concerns about conflicts of interest or such issues," adding, "(The U.S. Treasury bonds) were purchased around mid-2024."

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