Ulsan Mayor Kim Sang-uk. [Yonhap]
Ulsan Mayor Kim Sang-uk. [Yonhap]

Newly elected officials from the June 3 local elections reported average assets of 1.35 billion won ($999,000), according to a government disclosure published Tuesday. Among them, Ulsan Mayor Kim Sang-uk stood out: his declared wealth surged from 1.9 billion won at the end of last year to 5 billion won just after the June 3 vote — a gain of 3.1 billion won in roughly six months, largely attributed to gains in domestic and overseas listed shares.

The Government Ethics Committee published the asset registration filings of 1,259 senior public officials in the Official Gazette on Tuesday. Kim reported total assets of 5.02 billion won as of July and August.

Kim owns no home. His real estate holdings consist of a 267-square-meter plot of land in Yeongdeok-gun, North Gyeongsang Province, valued at 103.8 million won. The vast majority of his wealth — 91.2 percent — is held in deposits, amounting to 4.58 billion won.

Kim's declared assets stood at 1.95 billion won at the end of last year, when he was still a National Assembly member. By late April, when he resigned his seat to run for Ulsan mayor in the June 3 local elections, that figure had risen to 3.76 billion won — an increase of 1.81 billion won in just four months. Most of that increase, 1.77 billion won, came from growth in deposits.

Kim attributed the increase to "salary savings, fund returns and dividends from a law firm."

This round of disclosures covered 13 of the 16 metropolitan and provincial governors newly elected to their positions.

The assets of the three re-elected incumbents — Seoul Mayor Oh Se-hoon, North Gyeongsang Province Governor Lee Chul-woo and South Gyeongsang Province Governor Park Wan-su — were disclosed based on their filings from the end of last year, as they were not required to submit new declarations under the Public Officials Ethics Act.

Including those year-end filings, Oh was the wealthiest among the 16 metropolitan and provincial governors. He reported total assets of 7.29 billion won, including a multi-unit residential property in Daechi-dong, Gangnam-gu, Seoul — measuring 194.24 square meters — valued at 2.58 billion won, and deposits of 1.79 billion won.

Kim ranked second, followed by Daegu Mayor Choo Kyung-ho in third place.

Choo reported total assets of 4.28 billion won, including an apartment in Dogok-dong, Gangnam-gu, Seoul — measuring 106.78 square meters — valued at 3.02 billion won, deposits of 2.21 billion won, and debts of 1 billion won.

North Chungcheong Province Governor Shin Yong-han reported total assets of 3.27 billion won, comprising a half-share in an 84.75-square-meter property in Itaewon, Yongsan-gu, Seoul, valued at 654 million won; 2.84 billion won in private loans extended to others; and deposits of 445.51 million won.

The Government Ethics Committee published the asset registration filings of 1,259 senior public officials whose status changed between June 2 and July 1 in the Official Gazette on Tuesday, including newly elected officials from the June 3 local elections.

The disclosures covered 563 newly elected local officials, 586 outgoing elected officials and 110 newly appointed or promoted public servants. Re-elected incumbents who retained their positions were excluded under the Public Official Election Act and the Public Officials Ethics Act, and asset disclosures for local council members are published separately by the ethics committees of their respective metropolitan or provincial governments.

Among all newly elected officials, Bonghwa-gun County Chief Choi Gi-yeong was the wealthiest, reporting total assets of 34.92 billion won.

Among heads of basic local governments, Changwon Mayor Kang Gi-yun of South Gyeongsang Province followed with 13.96 billion won, and Yongsan-gu District Mayor Kim Kyung-dae of Seoul came next with 9.36 billion won. Among regional government heads, Kim Sang-uk of Ulsan topped the list with declared assets of 5.02 billion won, including 4.58 billion won in deposits.


yeonjoo7@heraldcorp.com