It was found that nearly half of senior public officials who are elected or appointed, like members of the National Assembly, are multi-homeowners with two or more dwellings. The locations are concentrated in Seoul, particularly in the three Gangnam districts.
On the 18th, Leaders Index analyzed the disclosed family assets of 2,581 senior officials of grade 4 or higher who were elected or appointed and was found that 48.8% owned two or more. It was found that 17.8% owned three or more.
Of the total assets (571.34 billion won), 335.56 billion won, or 58.7%, was building assets. Among these, residential real estate suitable for actual residence totaled 4,527 units. By value, that amounts to 231.56 billion won.
By dwelling type, apartments accounted for more than half at 2,665 units (58.9%), with a value reaching 177.5 billion won (76.7%). They were followed by detached houses (16.6%), mixed-use buildings (8.6%), and officetels (6.9%).
By job category, senior government officials had the highest number of dwellings per person at 1.89. They were followed by local government heads at 1.87, and members of local councils and public institution and state-run research institute officials at 1.71 each. Members of the National Assembly owned an average of 1.41 units.
Geographically, the concentration in central Seoul, especially the three Gangnam districts, was notable. Dwellings located in Seoul totaled 1,344 units (29.7%), and reflecting the high home prices, their value reached 1.3338 trillion won (57.6%).
Within Seoul, the so-called three Gangnam districts—Gangnam-gu (229 units), Seocho-gu (206 units), and Songpa-gu (123 units)—accounted for 41.5% of the total. Yongsan-gu (74 units) followed.
Among those surveyed, the public official with the most dwellings was Gangnam District Mayor Cho Seong-myeong in Seoul, with a total of 42 units. These included one apartment in Gangnam-gu under the official's name, 38 officetels in Goyang, one officetel in Sokcho, and two mixed-use buildings in Gangnam-gu under the spouse's name.
Among members of the National Assembly, the largest holder was Park Min-gyu of the Democratic Party of Korea (Gwanak A), with 13 units. These included one apartment in Seocho-gu jointly owned with a spouse, 11 officetels in Gwanak-gu, and one mixed-use building in Dangjin, South Chungcheong Province, under the member's name.
A Leaders Index official said, "The more multi-homeowners were, the clearer the tendency to start with one or two apartments and combine several detached houses, officetels, and mixed-use buildings, and the concentration in Seoul and Gangnam remained unchanged."