Minister of Planning and Budget Nominee Park Honggeun Reports 623 Million Won in Assets

President Lee: "The Right Person with Expertise in Public Finance and Comprehensive Governance Abilities"

Park Honggeun, nominee for Minister of Planning and Budget, reported total assets of approximately 623 million won under his and his family's names.

Park Honggeun, a member of the Democratic Party of Korea and nominee for Minister of Planning and Budget, is responding to questions from reporters while heading to the confirmation hearing preparation office set up at the Korea Deposit Insurance Corporation in Jung-gu, Seoul on March 3, 2026. Photo by Dongju Yoon

According to the personnel hearing request submitted to the National Assembly on March 9, Park reported a total of about 257 million won in assets under his name. This includes half of an apartment in Sinnae-dong, Jungnang-gu, Seoul (worth 136.5 million won), a jeonse right for an office in Sinnae-dong (40 million won), deposits of about 62 million won, and political funds of about 19 million won.

In his spouse's name, he reported the remaining half of the apartment in Sinnae-dong (136.5 million won), deposits of about 179 million won, and financial liabilities of about 3.8 million won, totaling approximately 329 million won.

Park's mother reported a detached house in Bongdeok-ri, Dodeok-myeon, Goheung-gun, Jeollanam-do (22.2 million won), a 248-square-meter field (about 2 million won), and a 1,896-square-meter forest (about 3.5 million won), totaling approximately 28.6 million won. Park's eldest daughter reported deposits of about 7.6 million won.

Born in 1969, Park graduated from the Department of Korean Language and Literature at Kyung Hee University in 1994. He has served as an executive board member at the Citizens' Coalition for Economic Justice and a standing member of the National Unification Advisory Council. He was elected to the National Assembly four times as a representative of Jungnang-eul, Seoul, from the 19th to the 22nd terms, and served as the Democratic Party's floor leader as well as chair of the National Assembly's Special Committee on Budget and Accounts and the Steering Committee.

During his university days, Park served as president of the Kyung Hee University Student Council and as acting chair of the National Council of Student Representatives. In June 1991, he was sentenced to one year in prison, suspended for two years, for violating the Assembly and Demonstration Act and the Act on the Punishment of the Use of Molotov Cocktails.

In May 1994, he was sentenced to one year and six months in prison, suspended for two years, for charges including obstruction of official duties resulting in injury under special circumstances, violation of the Act on the Punishment of Violent Acts, and violation of the National Security Act.

Regarding military service, Park received a Grade 2 active duty classification in July 1991 but was reassigned to wartime labor service in January 1996 due to his record of imprisonment related to political activities.

President Lee Jaemyung stated in the personnel hearing request that "the nominee demonstrated a keen ability to balance diverse interests in budget allocations during his tenure as chair of the Special Committee on Budget and Accounts, and, as the Steering Committee chair and Democratic Party floor leader, managed the decision-making process with a focus on coordination." He added, "He is expected to ensure stable cooperation with the legislature and relevant ministries in the process of fiscal management."

He further emphasized, "The nominee is expected to actively invest fiscal resources where they are most needed to address the structural challenges facing the nation, while boldly restructuring unnecessary expenditures to enhance both the efficiency and sustainability of fiscal operations." He described Park as "the right person for the job, equipped with expertise in public finance, strategic insight, and the ability to manage state affairs through consultation and coordination."

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