Ex-governor Lee Se-ung tops asset disclosures at W275.9b, with shares up W116.2b

The assets of 82 senior public officials who changed status in July — through new appointments, promotions or retirements — were made public Friday. The wealthiest among them was Lee Se-ung, the former North Pyongan Province governor under the Ministry of Interior and Safety's Five Northern Provinces Committee, who retired in July. Among active officials, Presidential Youth and Future Affairs Secretary Kim Tae-won ranked first, followed by Oh Seok-geun, Busan's vice mayor for future innovation, and Shim Uk-gi, head of the National Tax Service's Daejeon regional office.

The Government Ethics Committee published the disclosures, titled "October 2026 Periodic Asset Registration," in the official gazette on Friday. The 82 officials covered changed status between July 2 and Aug. 1, comprising 23 new appointees, 17 promotions, 37 retirements, two periodic changes, two exemptions and one re-disclosure.

Lee reported combined assets of 275.95 billion won ($208 million) in his and his family's names — up 117.23 billion won from the 158.72 billion won he declared at this year's regular asset disclosure.

Securities, including shares, accounted for the largest share of his assets at 222.59 billion won, up more than 116.2 billion won from the previous 106.35 billion won. Lee holds 840,500 shares of Samsung Electronics in his own name; while his holdings fell by 10,600 shares from the previous disclosure, a rise in the share price drove a sharp increase in the securities' value. He also reported 38.2 billion won in land — including forest plots in Bangbae-dong, Seocho-gu, and Siheung-dong, Geumcheon-gu, Seoul — and a standalone house in Jangchung-dong 1-ga, Jung-gu, Seoul, valued at 9.52 billion won.

Among active officials, Kim Tae-won led with 16.14 billion won. The inaugural secretary of the youth and future affairs office, established in July, Kim is a former executive director at Google Korea. He reported 11.94 billion won in securities alone, with US big-tech stocks making up the bulk — including 13,886 shares of Alphabet, Google's parent company, along with 960 shares of Nvidia, 439 shares of Apple and 322 shares of Microsoft. He also holds a Park Tower apartment in Yongsan-dong 5-ga, Yongsan-gu, Seoul, valued at 2.38 billion won.

Oh, the vice mayor, reported about 8 billion won, and Shim, the regional tax chief, reported about 5.7 billion won. Oh holds 722,000 shares of Penetrium Bioscience in his own name and those of his spouse and second daughter.

Chai Yi-bae, chief of staff to the prime minister, reported 1.41 billion won. Hong Eui-rak, president of Korea Gas Corporation, reported 3.26 billion won, and Kang Cheong-hee, chairperson of the National Health Insurance Service, reported 2.84 billion won. Song Nam-su, appointed as North Pyongan Province governor to succeed Lee, reported 2.11 billion won.

Lee Seung-won, the presidential secretariat's overseas media secretary, was the only person among those required to disclose assets to report negative net worth, with liabilities exceeding assets by 28.59 million won.

Meanwhile, the top three retirees by assets were Lee Se-ung, the former North Pyongan Province governor; Ha Il-su, former head of the Korea Foundation for International Healthcare under the Ministry of Health and Welfare; and Kim Dong-geuk, former head of the National Pension Service under the Ministry of Personnel Management. Lee reported about 275.9 billion won, Ha about 6.5 billion won and Kim about 6.1 billion won.