Seoul, South Korea – According to data released by the South Korean Government Public Service Ethics Committee on March 27th, the declared assets of senior public officials in South Korea averaged 2.06314 billion Korean won (approximately 10.22 million yuan) by the end of 2024. This represents an increase of 162.13 million Korean won compared to the previous year’s declaration.
The asset disclosure covers a wide range of high-ranking officials, including government ministers, senior civil service group A-level officials, presidents of national universities, heads of metropolitan and local administrative districts, members of metropolitan administrative councils, and superintendents of municipal and provincial education.
Out of the 2,047 officials included in the report, 1,440 (70.3%) saw an increase in their assets, while 607 (29.7%) experienced a decrease. In terms of asset scale, 31.5% (644 individuals) held assets exceeding 2 billion Korean won, 29.8% (610 individuals) held between 1 billion and 2 billion Korean won, and the remainder held between 500 million and 1 billion Korean won.
This report offers a glimpse into the financial standing of South Korea’s top public servants and raises questions about the sources of wealth accumulation and potential implications for public trust. Further analysis is needed to understand the specific factors contributing to the asset growth and to assess the ethical considerations surrounding the wealth of public officials.
References:
- Yonhap News Agency. (2024, March 27). 韩2024年高级公职人员人均财产1022万元 [Average assets of South Korean senior public officials reach 10.22 million yuan in 2024]. Retrieved from [Insert original URL here if available]
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