The assets of Ulsan Mayor Kim Sang-wook increased from 1.9 billion Korean won at the end of last year to 5 billion Korean won immediately after the June 3 local elections, a rise of 3.1 billion Korean won in half a year. This is attributed to the surge in domestic and international listed stocks during the first half of the year.
According to the public officials’ asset disclosure data released by the Government Ethics Committee, Mayor Kim reported assets of 5.0246 billion Korean won as of July–August. Mayor Kim does not own a house but holds 267㎡ (approximately 81 pyeong) of land in Yeongdeok County, North Gyeongsang Province, valued at 103.8 million Korean won. The majority of his assets (91.2%) are in deposits, amounting to 4.5805 billion Korean won.
Mayor Kim’s reported assets were 1.9454 billion Korean won as of the end of last year when he was a member of the National Assembly. By the end of April this year, when he resigned to run for the Ulsan mayoral election, his assets had increased to 3.7585 billion Korean won, a rise of 1.8131 billion Korean won in four months. Most of the increase (1.7704 billion Korean won) was due to higher deposits, which Mayor Kim attributed to “salary savings, fund profits, and law firm dividends” at the time.
The assets disclosed today were reported by Mayor Kim after he took office as mayor, between July and August. His assets increased by an additional 1.2661 billion Korean won compared to the end of April, with most of the increase (1.2185 billion Korean won) again from deposits. This time, Mayor Kim reported the reason as “changes in fund valuation.”
Looking solely at Mayor Kim’s Woori Bank account, it grew from 1.3511 billion Korean won at the end of last year to 4.2785 billion Korean won in July–August.
The specific funds held by Mayor Kim were not disclosed. However, the KOSPI index rose from 4,214.17 at the end of last year to 9,052.42 on June 19, and SK Hynix’s stock price increased from 651,000 Korean won at the end of last year to 2.919 million Korean won on June 22.
This disclosure included the assets of 13 people elected as metropolitan or provincial governors for the first time, out of 16 total. The assets of three re-elected governors—Seoul Mayor Oh Se-hoon, North Gyeongsang Governor Lee Cheol-woo, and South Gyeongsang Governor Park Wan-su—were disclosed as of the end of last year and were not updated due to legal requirements.
Including their year-end disclosures, Seoul Mayor Oh Se-hoon had the highest assets among the 16 metropolitan or provincial governors. Mayor Oh reported owning a 194.24㎡ (approximately 59 pyeong) multi-family housing unit in Daechi-dong, Gangnam-gu, Seoul, valued at 2.584 billion Korean won, and deposits of 1.7926 billion Korean won, totaling 7.2896 billion Korean won. Mayor Kim ranked second.
Third was Daegu Mayor Choo Kyung-ho, who reported a 106.78㎡ (approximately 32 pyeong) apartment in Dogok-dong, Gangnam-gu, Seoul, valued at 3.016 billion Korean won, deposits of 2.2053 billion Korean won, and debts of 1 billion Korean won, totaling 4.2812 billion Korean won.
Gyeonggi Governor Choo Mi-ae reported an officetel in Yeouido, Seoul, valued at 302.47 million Korean won, and deposits of 2.4651 billion Korean won, totaling 3.6976 billion Korean won. Chungcheongbuk Governor Shin Yong-han reported a 50% stake in an 84.75㎡ (approximately 26 pyeong) property in Itaewon, Yongsan-gu, Seoul, valued at 654 million Korean won, 2.84 billion Korean won lent to others, and deposits of 445.51 million Korean won, totaling 3.2695 billion Korean won.
Incheon Mayor Park Chan-dae reported 2.9054 billion Korean won, South Gyeongsang Governor Park Wan-su reported 1.9877 billion Korean won, North Gyeongsang Governor Lee Cheol-woo reported 1.9008 billion Korean won, Gangwon Governor Woo Sang-ho reported 1.791 billion Korean won, and North Jeolla Governor Lee Won-taek reported 1.0368 billion Korean won.
Jeollanam-Gwangju Governor Min Hyung-bae reported 642.02 million Korean won, Busan Mayor Chun Jae-soo reported 623.23 million Korean won, Daejeon Mayor Heo Tae-jung reported 545.39 million Korean won, South Chungcheong Governor Park Soo-hyun reported 533.08 million Korean won, and Jeju Governor Wi Sung-gon reported 461.1 million Korean won. Sejong Mayor Jo Sang-ho reported the least, with 393.42 million Korean won.
The assets of six staff members appointed in June to President Lee Jae Myung’s Cheong Wa Dae were also disclosed. Park Ji-young, the Senior Secretary for Judicial System, reported a 165.45㎡ (approximately 50 pyeong) apartment in Banpo-dong, Seocho-gu, Seoul, valued at 4.58 billion Korean won, deposits of 2.8578 billion Korean won, and securities of 2.4044 billion Korean won, totaling 9.2177 billion Korean won. Seong Ghi-hong, the Senior Presidential Secretary for Public Relations, reported a 125.17㎡ (approximately 38 pyeong) apartment in Daechi-dong, Gangnam-gu, Seoul, valued at 3.9 billion Korean won, deposits of 1.416 billion Korean won, and securities of 1.3657 billion Korean won, totaling 8.6635 billion Korean won. Han Chan-sik, the Chief of Staff for Civil Affairs, reported a 130.96㎡ (approximately 40 pyeong) new apartment purchase right in Seocho-gu, Seoul, valued at 2.5567 billion Korean won, deposits of 1.1499 billion Korean won, and other assets totaling 5.8607 billion Korean won.
Kang Geon-jak, the First Deputy Director of the Office of National Security, reported 1.0415 billion Korean won, Kim Tae-geun, the Senior Secretary for Autonomous Development, reported 553.97 million Korean won, and Kim Kyung-ja, the Senior Secretary for Social Affairs, reported 507.47 million Korean won.
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