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Kim Min-seok‘s Income Under Scrutiny Amidst Prime Minister Hearing
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Kim Min-seok, a member of the Prime Minister’s personnel hearing committee, faces intense scrutiny regarding his income. Representative Joo Jin-woo has publicly questioned discrepancies between Kim’s reported earnings and expenditures, urging the public to evaluate the available data.
Joo Jin-woo Highlights Income discrepancies
Representative Joo Jin-woo took to Facebook on June 18th, 2025, to emphasize what he claims is an 800 million won difference in Kim Min-seok’s finances since 2020.joo Jin-woo stated, “Kim Min-seok said he had more income, such as wealth and lectures, but I can’t pay data.” He further added that the year-end settlement reports after 2020 show other income totaling only 6.2 million won.
Did You Know? South Korea’s National Assembly members earn an average annual salary of approximately 150 million won (roughly $120,000 USD) as of 2024, according to the National Assembly Secretariat.
Kim min-seok Releases Financial Data
In response to the allegations, Kim Min-seok has released income and comprehensive taxable data from 2020 to 2023. This “data-to-data” approach aims to provide transparency and allow the public to assess his financial situation directly. The move comes as the controversy intensifies,shifting focus from rebuttals to concrete evidence.
Concerns Over Asset Growth
During an appearance on the YouTube program ‘Lee Dong-jae’s News Cabinet,’ Joo Jin-woo questioned the rapid increase in Kim Min-seok’s property over the past five years. He contrasted the difficulty average citizens face in saving relatively small amounts with the reported 800 million won increase in Kim’s assets. Joo Jin-woo stated, “The official income is all about 510 million won that Kim Min -seok has been taxed by the National Assembly. He claims that there is a separate income. The official income is about 510 million won. It costs about 500 million won.” The cash receipt is 230 million won, and it is indeed a donation of 850 million won.
Pro Tip: Public officials in South Korea are required to disclose their assets annually to promote transparency and prevent corruption, according to the Public Service Ethics Act.
Discrepancies in Spending and Income
Joo Jin-woo further elaborated on the alleged financial inconsistencies, stating, “Lee (Kim Min -seok candidate) buy rent, and if you look at the rent, you can see if you buy rent. Even if the rent is a few hundred thousand won, it costs at least 50 million won in five years. So that’s about 1.1 billion won.” I went to school, and it was about 1.3 billion won. He pointed out that while Kim Min-seok earned approximately 500 million won, his expenditures totaled around 1.3 billion won,leaving an 800 million won gap. He added, “But there are only two clarifications about this. I earned 500 million won, but I spent 1.3 billion won, but the amount is 800 million won. In fact, even if you divorce, it is common to pay for it.”
| Financial Metric | Amount (Won) |
|---|---|
| Reported Income (Approximate) | 500 Million |
| Reported Expenditures (Approximate) | 1.3 Billion |
| alleged discrepancy | 800 Million |
The controversy surrounding Kim Min-seok’s income continues to unfold, with the public awaiting further clarification and explanation. The outcome could significantly impact his position and reputation.
What do you think about the importance of financial transparency for public officials? Should there be stricter regulations on asset disclosure?
Evergreen Insights: Financial Transparency in South Korean Politics
Financial transparency has become an increasingly critical issue in South Korean politics. Public officials are under constant scrutiny to ensure they are not using their positions for personal gain. The public Service Ethics Act mandates asset disclosure for high-ranking officials, but debates continue regarding the effectiveness of these
