SUWON — The Gyeonggi Province Public Service Ethics Committee disclosed on the 29th the asset filings of 526 people, including municipal and county council members newly elected in the June 3 local elections and former members who completed their terms. The 287 newly elected council members reported average assets of 1.06 billion won ($760,000) each.
The committee posted the filings in the Gyeonggi Province official gazette and on the Public Ethics Information System (PETI) on the 29th, in line with Article 10 of the Public Service Ethics Act. The disclosure covers 287 newly elected municipal and county council members and 239 members who left office at the end of their terms.
By asset bracket, 110 of the new members, or 38.3% of the total, reported holdings of 1 billion won or more. Sixty-one members, or 21.3%, reported between 500 million won and 1 billion won, while 116 members, or 40.4%, reported less than 500 million won.
The disclosure applies only to those newly required to register their assets. Members re-elected to positions already subject to disclosure were excluded from the first-time filing requirement. The figures therefore reflect filings by members who newly became subject to registration rather than the asset levels of all municipal and county council members.
The Gyeonggi Province Public Service Ethics Committee plans to review the disclosed filings. Reviews are to be completed within three months of disclosure as a rule, with an extension of up to three additional months available if needed.
If the review finds that assets were falsely reported or omitted or misstated through gross negligence, the committee may issue warnings, order corrections or impose fines. Measures under the Public Service Ethics Act also apply to officials who use confidential information obtained in the course of their duties to gain financial benefit.
Asset filings for 197 officials under the jurisdiction of the Government Public Service Ethics Committee, including the provincial governor, provincial council members and city and county mayors, are available in the national electronic gazette.
The reporting date for assets was July 1, when their terms began, for new members, and June 30, when their terms ended, for departing members. The filings cover real estate, deposits and stocks held not only by the members themselves but also by their spouses and lineal ascendants and descendants.
