Senior Public Officials in South Korea Average About $1.3 Million in Wealth
When you think about it most of these senior public officials are likely older and have more time to accumulate wealth. $1.3 million in average wealth is not that outrageous, but it does show you can do well in South Korea working in government:
Senior public officials in central and local governments have more than 2 billion won (US$1.3 million) in personal wealth on average, data showed Thursday.
A total of 1,903 senior officials declared an average of 2.09 billion won in personal assets as of end-2024, up about 30 million won from the average figure a year earlier, according to the Government Ethics Committee data.
Of the total, 616 officials, or 32.4 percent, had assets exceeding 2 billion won, followed by 538 with 1 billion won to 2 billion won and 374 with 500 million won to 1 billion won. The rest had less than 500 million won.
President Lee Jae Myung reported 4.97 billion won in assets, up 1.88 billion won from his last disclosure, mostly due to book royalties, his salary and unrealized gains of his exchange-traded fund investment.
You can read more at the link.
The President’s total assets are less than $4 million USD, which is pretty low for the top job.
Either Korea pays its government workers very poorly, or Korea doesn’t have as much corruption as the United States, which is riddled with outrageous grift and theft that nobody cares about.
@Mad Bob, yes members of our U.S. Congress like Omar have become suddenly incredibly wealthy in a short time. I would say plenty of people are upset with all the fraud going on in places like Minnesota and California, but little is being done to put these people in jail.
@MadBob:
You can’t really compare assets in Korea with the U.S. $4MM USD in South Korea is a lot, and you can do way more with it in Korea than in the U.S.
Also, news just broke that “president” Lee made 19억 (roughly $1.3MM) in this past year.. that’s a massive jump that’s questionable..