Min Hyungbae, Special Mayor of Jeonnam Gwangju Integration, Reports Assets of Approximately 1.3 Billion Won

Decrease of Over 300 Million Won Compared to National Assembly Tenure
Impact of Increased Liabilities During the Election Process

Min Hyungbae, Special Mayor of Jeonnam Gwangju Integration, reported personal assets amounting to approximately 1.35 billion won. This represents a decrease of about 300 million won compared to his tenure as a National Assembly member, which was influenced by increased liabilities incurred during the election process.

According to the asset disclosure for newly elected public officials in the 6·3 local elections, released by the Government Public Ethics Committee of the Ministry of Personnel Management on September 29, Mayor Min reported assets of 1,351,718,000 won. This is a decrease of 339,277,000 won from the previous report on April 30, when he declared 1,690,995,000 won.

The total value of buildings owned by Mayor Min and his family amounts to 1,058,499,000 won. This includes a multiplex villa in Suwan-dong, Gwangsan-gu, Jeonnam Gwangju under his spouse's name valued at 648,999,000 won, and a leasehold deposit for an officetel in Yongsan-gu, Seoul under his second daughter's name, valued at 409,500,000 won.

Min Hyungbae, Special Integrated Mayor of Gwangju, Jeonnam. Photo by Song Bohyun

The sum of bank deposits held by Mayor Min, his spouse, and two children totals 616,329,000 won. Political funds reported in separate income and expenditure accounts amounted to 89,410,000 won.

Mayor Min personally owns no stocks. However, his spouse and children jointly own listed and unlisted stocks worth approximately 642,020,000 won. Bonds held by Mayor Min and his spouse amount to 445,500,000 won.

Total liabilities stand at 1,544,220,000 won. Of this, Mayor Min's personal liabilities amounted to 970,000,000 won, including 100,000,000 won in bank loans and 870,000,000 won in private loans. Private loans increased by 650,000,000 won compared to the previous 220,000,000 won.

Mayor Min also declared 10,000,000 won in cash and two domestic full-size sedans registered under his own name. The vehicles are valued at 13,320,000 won and 20,860,000 won, respectively.

Lee Osuk, Head of the Fire and Disaster Headquarters of Jeonnam Gwangju Integration, reported personal assets of 5,968,430,000 won. The assets include land worth 1,190,930,000 won, buildings worth 3,664,920,000 won, deposits of 1,488,100,000 won, and stocks worth 76,290,000 won.

This round of asset disclosures covers 1,259 individuals newly elected as heads of local governments, superintendents of education, and metropolitan council members in the 6·3 local elections. Those re-elected while retaining their current positions are excluded from this disclosure. Song Hyunggon, Chair of the Jeonnam Gwangju Metropolitan Council, and Kim Daejoong, Jeonnam Gwangju Superintendent of Education, were not included in the new disclosure list.

This content was produced with the assistance of AI translation services.