Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok claimed on the 31st that it is 'not related to recent fluctuations in the exchange rate' regarding the holding of U.S. government bonds.
On this day, Deputy Prime Minister Choi explained the circumstances of his purchase of U.S. government bonds through Spokesperson Kang Young-kyu, stating to the Ministry of Economy and Finance press corps, 'I held dollars during the process of preparing for my children's study abroad after retiring from public office in 2017, and I purchased U.S. government bonds in mid-last year with the dollars I held.'
According to the status of public officials' asset disclosures released by the Government Officials Ethics Committee on the 27th, Deputy Prime Minister Choi reported that he had purchased the 30-year U.S. Treasury bond 'T1.375 08/15/50' last year, holding assets worth 197.12 million won as of the year-end asset declaration date.
In this regard, criticism arose from the opposition party, with a senior official of the Democratic Party, Lee Un-joo, stating, 'The Deputy Prime Minister, who should strive for economic stability, has been revealed to be only shouting stability with his mouth while betting on a surge in exchange rates and a foreign exchange crisis.'
The same party's senior official Jeon Hyun-hee asserted, 'According to the Public Officials Conflict of Interest Prevention Act, if a private interest relationship is involved in the performance of duty, one must avoid the duty,' and he argued that 'Deputy Prime Minister Choi's purchase of U.S. government bonds and his de facto management of the economy is a clear conflict of interest.'
Deputy Prime Minister Choi has also faced controversy over his holdings of U.S. government bonds in the past and has a record of disposing of them. During the 2023 National Assembly confirmation hearing, he faced criticism that his investment in U.S. government bonds worth 170 million won, which he purchased while serving as the economic chief of the presidential office, was improper behavior, and he sold all of those products before the year-end asset declaration.