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6 out of 10 senior officials saw assets increase despite economic slump

6 out of 10 senior officials saw assets increase despite economic slump

Posted March. 29, 2014 02:04,   


Six out of 10 high-ranking government officials saw their assets increase in 2013 from the previous year. President Park Geun-hye reported assets of 2.83 billion won (2.6 million U.S. dollars), up by 275 million won (257,250 dollars), due largely to pays and royalties from her autobiography.

According to 2,380 high-ranking public officials` reported assets disclosed Friday by the three branches of the government, their average assets amounted to 1.32 billion won (1.2 million dollars) as of the end of last year, excluding four lawmakers who had assets of more than 50 billion won (46.8 million dollars). Despite last year`s depressed economy, 60.8 percent of the officials saw their assets increase. An official at the Ministry of Security and Public Administration attributed the increase to rise in their property prices and savings.

According to the Government Public Ethic Committee, 1,152 of 1,868, or 62 percent, senior officials at the central and local governments and public organizations who are required to report their assets saw increased assets with average assets of nearly 1.19 billion won (1.1 million dollars) per person as of the end of last year, up by 28 million won (26,193 dollars) from a year earlier. Nearly 190 of 295 members, or 64.5 percent, of the National Assembly also had increases in their assets.