Busan's richest election winner: Councilman Seo Kyung-tae declares 8 billion won in assets
Among the newly elected officials in the Busan area from the June 3 local elections, People Power Party Busan City Councilman Seo Kyung-tae (Saha-gu 2nd district) reported the largest assets, declaring 8.05 billion won. The disclosure came as the Government Public Ethics Committee released the asset details of newly elected local officials on the 29th.
According to the disclosure, Councilman Seo reported land he owns worth 13.28 billion won, buildings owned by himself, his spouse and his eldest son worth 2.7 billion won, deposits held by himself, his spouse, his eldest son and eldest daughter worth over 1.1 billion won, and liabilities of 10.41 billion won. While his land and buildings alone were valued at nearly 16 billion won, his net worth is lower after subtracting debts exceeding 10.4 billion won. This asset total ranked eighth among the top 10 metropolitan council members nationwide by declared assets.
Among heads of basic local governments, Buk-gu District Chief Jung Myung-hee of Busan declared a total of 7.21 billion won, including buildings owned by herself and her spouse worth 1.39 billion won and securities owned by herself, her spouse and eldest son worth 2.2 billion won, the fourth-highest among basic government heads nationwide whose assets were disclosed. Busan Mayor Jeon Jae-su, a former three-term National Assembly member, declared 623.23 million won, ranking ninth among the 13 newly elected metropolitan government heads. The highest declarer among metropolitan heads in this disclosure was Ulsan Mayor Kim Sang-uk, who reported 5.02 billion won.
The lowest declarer among Busan's winners was Saha-gu District Chief Seo Tae-kyung, who reported 80 million won, while among city council members, People Power Party proportional representative Councilman Bae Kwan-gu declared the least, at 103 million won.
According to the Government Public Ethics Committee, the 563 newly elected officials who reported their assets had an average of 1.35 billion won in declared assets. Councilman Seo's declared amount is several times that average.
