![Financial Supervisory Service chief Lee Chan-jin. [FSS]](https://wimg.heraldcorp.com/news/cms/2026/06/02/news-p.v1.20260326.19d6037915564c47bf453311c19c3cea_P1.jpg)
As the Kospi continues to set all-time highs, Financial Supervisory Service chief Lee Chan-jin — who sold a Gangnam-area apartment amid controversy over his multiple-home ownership and put the proceeds into exchange-traded funds — has reportedly earned a return of around 150 percent.
Lee sold an apartment he co-owned with his spouse in Umyeon-dong, Seocho-gu, Seoul, in late October last year, then used the down payment to buy domestic index-tracking ETFs. He had come under fire for owning multiple homes as a senior public official and decided to offload the property.
The apartment sold for 1.8 billion won (about $1.3 million), roughly 400 million won below its asking price of 2.2 billion won (about $1.6 million) at the time.
At a national audit session, Lee had said, "Living space has become tighter and there is some discomfort, but given my position as a public official, I will dispose of one unit and settle the matter."
Although he parted with a prized Gangnam apartment under pressure over his property holdings, analysts say the decision ultimately proved far from regrettable, as the ETF investments have generated substantial gains on the back of a buoyant stock market.
According to financial investment industry sources, Lee visited a KB Securities branch in person on the day the apartment sale closed and used the down payment to subscribe to ETF products tracking the Kospi and Kosdaq indexes. The investment amount is understood to be 200 million won.
KODEX 200, a leading ETF tracking the KOSPI 200 index, gained 151.55 percent from the time Lee made his purchase through June 1. Similar Kospi-tracking ETFs — TIGER 200, ACE 200 and RISE 200 — also posted returns exceeding 150 percent over the same period.
If Lee invested the full 200 million won down payment, his paper gains alone would exceed 300 million won.
ETFs tracking the Kosdaq 150 index have risen roughly 20 percent since Lee's purchase. Assuming he split his investment evenly between the two benchmark indexes, his estimated paper gains would approach 170 million won.
At a press briefing in February, when asked whether he planned to buy more ETFs with the remaining proceeds from the apartment sale, Lee said, "I will do so once the balance comes in," adding, "The returns have been quite good."
He also said the investment "helped partially offset the loss incurred in selling the apartment."
Meanwhile, according to the government's annual public asset disclosure released by the Government Public Ethics Committee in March, Lee reported total assets of 40.73 billion won as of the end of last year, held in his own name and those of his spouse and eldest son. His declared wealth rose by 2.24 billion won from the previous filing, ranking him 10th among all public officials by the size of the increase.
yeonjoo7@heraldcorp.com
