Local gov't officials' average assets reach 800 million won

By Kim Hyun-bin

Newly elected local government officials' assets average 800 million won ($720,000), according to the latest report, Friday, with Busan's mayor being the richest.

The Government Ethics Committee released the asset information about the officials, who were elected on June 13.

“The release of the asset information aims to enhance transparency among government officials and to establish trust among the local communities and intends to strengthen the local government,” said Lim Man-gyu, director of administrative ethics at the Ministry of Personnel Management.

The average wealth of six mayors and governors stood at 2.6 billion won, while that of five superintendents of education was 359 million won. Re-elected officials were excluded from the list.

Among the 670 new officials, Busan mayor Oh Geo-don topped the list with 8.71 billion won. Most of the assets consisted of a securities fund accounting for 43 percent, or 4.98 billion won. Other assets include an apartment in Gangnam district worth 1.11 billion won and land worth 835 million won in Yeoju in Gyeonggi Province and Gimhae in South Gyeongsang Province.

Oh also reported three artworks including paintings and sculptures worth 100 million won.

Next is Kim Yong-yeon, a member of the Seoul Metropolitan Council who reported 7.66 billion won, Lee Dong-hyun, a member of the South Jeolla Provincial Assembly with 6.75 billion and Song Yong-hun, a member of the Daegu Metropolitan Council with 6 billion won.

Some local officials reported minus assets.

At the bottom was Yoo Sae-um of the Incheon Metropolitan Council, who reported 2.14 billion, won followed by Lim Jong-sik, superintendent of education of North Gyeongsang Province with 791 million won.

Of the six metropolitan council heads, Lee Jae-myung, Governor of Gyeonggi Province topped the list with 2.78 billion won, followed by Ulsan mayor Song Cheol-ho with 2.43 billion won, South Jeolla Province Govenor Kim Yung-rok with 874 million, Gwangju Mayor Lee Yong-Seop with 416 million won and Daejeon Mayor Huh Tae-jung with 381 million won.

Similar to Busan mayor Oh, South Jeolla Province Governor Kim and Gwangju mayor Lee each own an apartment in the capital.

The Government Ethics Committee will thoroughly look into the assets to see if there were any unreported assets and plans to trace the source of all the reported funds by the end of this year.