Exclusive: Average Wealth of South Korea's National Assembly Members Hits $2.5 Million, 22 Hold Cryptocurrencies

The average wealth of the newly elected members of South Korea's 22nd National Assembly stands at $2.5 million (3.33 billion won), according to a report released on Monday by the Citizens' Coalition for Economic Justice (CCEJ).

The report reveals that the average real estate holdings of the lawmakers amount to $1.42 million (1.89 billion won), which is 4.6 times higher than the national average. Their total wealth is 7.6 times the average wealth of South Korean citizens.

On average, the lawmakers' securities assets are valued at $647,000 (860 million won), nearly 10 times the national average. The report also found that the average holdings in cryptocurrencies among the members are $760 (1.01 million won).

Ahn Cheol-soo of the People Power Party tops the list as the wealthiest lawmaker with a staggering $105.5 million (140.14 billion won) in assets. In terms of real estate, Park Jung of the Democratic Party leads with $30.8 million (40.97 billion won), while Ahn also holds the largest amount in securities at $100.2 million (133.2 billion won). Kim Jun-hyuk of the Democratic Party is the leading holder of cryptocurrencies, with $8,597 (11.42 million won).

The CCEJ stressed that the focus is not merely on the quantity of wealth but on enhancing accountability and transparency in how these assets were acquired, and on preventing conflicts of interest.

The report also includes a detailed investigation into potential conflicts of interest related to real estate, stocks, and cryptocurrencies.

Among the top 30 real estate holders, 24 were found to have what the CCEJ terms "excessive real estate holdings"—defined as owning more than two houses, non-residential buildings, land, or farmland. Of these, 19 are landlords, with total rental liabilities amounting to $10.99 million (14.59 billion won).

Regarding stock holdings, 97 out of the 300 elected members possess stocks worth more than $22,600 (30 million won), requiring them to sell or place these assets in a blind trust according to South Korean regulations. Additionally, 22 lawmakers were found to own cryptocurrencies.

The CCEJ criticized the lack of thorough verification of wealth formation processes during the election's candidate nomination phase and urged measures to avoid conflicts of interest.

"We urge elected members with excessive real estate, stock, or cryptocurrency holdings to voluntarily dispose of these assets to show their commitment to serving the public diligently," the CCEJ said in a statement.

The organization also called for the disclosure of the acquisition details of real estate and sources of income, as well as the review details of stock blind trusts, if no speculative intent is present.

The CCEJ also advocated for abolishing the notification refusal system, enhancing transparency in public officials' asset declarations, tightening review standards for lawmakers' rental businesses and stock blind trusts, and introducing a cryptocurrency sale system. They emphasized the need for fair real estate policies to benefit the general public.