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S. Korean lawmakers' average wealth is 3.4 bln won

All Headlines 09:44 August 26, 2016

SEOUL, Aug. 26 (Yonhap) -- South Korean lawmakers' average assets have been estimated at 3.42 billion won (US$3.06 million), data showed Friday, with the richest figure holding a whopping 234.1 billion won.

According to the data compiled by the ethics commission of the National Assembly, lawmakers of the main opposition Minjoo Party of Korea held 5.2 billion won on average, trailed by those of the ruling Saenuri Party with 2.6 billion won.

The research was conducted on 154 newly listed lawmakers, who did not serve in the previous parliament.

The figure held by Minjoo, however, dropped to 1.6 billion won when excluding Rep. Kim Byoung-gwan, the richest incumbent lawmaker who previously headed local game developer Webzen Inc.

The minor People's Party and Justice Party held comparable figures of 1.4 billion won and 384.6 million won, respectively.

Other rich lawmakers included Rep. Park Jeung from Minjoo with combined assets of 23.7 billion won. He operates one of the major private language education companies in the country.

colin@yna.co.kr
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