Government Ethics Committee asset disclosure
Seo Yeong-hak, the 55-year-old mayor of Yeosu and a former civil servant, reported net assets of 23.09 million won ($17,000), according to a new asset disclosure released by the Government Ethics Committee.
Seo, who won the June 3 local elections, has been under scrutiny after it emerged that he borrowed 100 million won from an acquaintance during the campaign. The National Election Commission referred the matter to prosecutors for investigation.
Seo has spent his entire career in public service since passing the senior regional civil service exam (9th cohort). He declared total debts of 181.4 million won — comprising 100 million won borrowed from a private individual and an 81.4 million won loan from Nonghyup Bank. Those liabilities exceeded his total assets, which included 150.2 million won in deposits held by five immediate family members and 4.73 million won in shares held in his spouse's name, leaving his net reported assets at 23.09 million won.
Under the Government Ethics Committee's disclosure of asset registrations for newly elected officials, nine of the 27 municipal and county heads in South Jeolla Province and Gwangju who won seats in the June 3 local elections were required to submit new filings.
Among the nine, Kim Tae-seong, the newly elected head of Sinan-gun and a former military officer who graduated from the Korea Military Academy, reported the highest assets at 3.42 billion won ($2.51 million), followed by Son Hun-mo, the attorney-turned-mayor of Suncheon, at 2.93 billion won.
Park Seong-hyeon, the new mayor of Gwangyang and a former professor, reported 1.35 billion won. Kang Seong-hwi, the new mayor of Mokpo with a background in politics, declared 855.53 million won, and Kim Sin, the new head of Wando-gun, reported 524 million won.
Officials who re-register assets — those who previously disclosed assets, left public office, and return to a disclosure-required post within one year — are required to report only the changes from their most recent filing.
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