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Eximbank CEO named richest public servant in finance

Eximbank CEO Bang Moon-kyu (Export-Import Bank of Korea)
Eximbank CEO Bang Moon-kyu (Export-Import Bank of Korea)

The state-run Export-Import Bank of Korea CEO Bang Moon-kyu was named the richest public official in a financial institution, with net worth amounting to some 5.9 billion won ($5.2 million) as of end-2020, data by the public service ethics committee here showed Thursday.

The data disclosed by the committee under the Ministry of Personnel Management also took assets owned by the officials’ family members into account.

The value of Bang’s net assets, including real estate, gained 883 million won on-year as of end-2020, as the value of his apartment in Yongsan-gu -- jointly-owned by his spouse -- increased 375 million won to roughly 1.9 billion won in the cited period. His own financial assets gained 169 million won, while his spouse’s increased 610 million won in the same period.

Another state-run lender, Korea Development Bank Chairman Lee Dong-gull’s net assets came to some 4.9 billion won as of end of last year, ranking him No. 2. His assets included strips of land owned separately by himself and his spouse -- the value of which increased by a combined 18.5 million won in the cited period -- as well as an apartment and a building.

The heads of financial authorities also reported gains in their wealth despite risks from the COVID-19 pandemic.

The policymaking Financial Services Commission Chairman Eun Sung-soo reported a net worth of 3.9 billion won as of end of last year. The value of his net asset gained 721 million won on-year with the price of his apartment in Seocho-gu increasing 350 million won to 1.2 billion won in the cited period.

Last year, Eun sold off his second apartment in the administrative city of Sejong, increasing his cash deposits by some 200 million won to 689 million won as of end-2020. Deposits owned by his family members -- his spouse and two sons -- gained 416 million won on-year to 1.5 billion won as of end of last year. Eun currently lives on a jeonse contract -- a home rental system whereby tenants pay a lump-sum refundable deposit instead of monthly rent -- estimated to be worth 850 million won, for an apartment in Seongdong-gu, central Seoul.

Watchdog Financial Supervisory Service Gov. Yoon Seuk-heun reported a net worth of some 3.3 billion won. The net value of Yoon’s assets gained 173 million won in the same period, despite the price of his apartment in Gangwon province dropping by 25 million won. But Yoon’s cash deposits gained 44 million won and his spouse’s increased 241 million won on-year.

By Jung Min-kyung (