By Yoon Ja-young
Ranking officials of the Moon Jae-in administration have on average 1.66 billion won ($1.49 million) in assets. The ratio of Cabinet members from the Gyeongsang and Jeolla provinces increased compared with the previous administration, and those from the country's top three universities also increased steeply.
That is according to CEO Score, a business information provider which analyzed data of 67 vice ministers as well as ministers and chief presidential secretaries. It also includes Hong Jong-haak, minister nominee for the newly created Ministry of SMEs and Startups.
The average assets of the 67 officials stood at 1.66 billion won, which is 12 percent more than the average 1.45 billion won marked during the Park Geun-hye administration.
There were a few affluent officials who pulled up the average. Jang Ha-sung, the presidential chief of staff for policy, is the wealthiest in the Moon Cabinet, with assets totaling 9.3 billion won. The former professor, known as a small shareholder activist stressing chaebol reform, had reported 5.4 billion won worth of stocks.
Ranking officials are required to disclose their assets. In his portfolio were the country's top conglomerate shares, including Samsung Electronics, Hyundai Motor, SK Telecom and LG. However, he sold off the stocks after the inauguration.
Following on the wealthy list is Paik Un-gyu, minister of trade, industry and energy, who has assets worth 5.8 billion won. On top of an apartment in southern Seoul, he reported 3.4 billion won bank savings.
Minister nominee Hong Jong-haak followed with 5.6 billion won in assets, which includes 860 million won assets his teenage daughter inherited from his mother-in-law.
Cho Kuk, presidential secretary for civil affairs, has 5 billion won in assets, followed by first vice foreign minister Lim Sung-nam who had reported 3.7 billion won.
The data also showed those from the Jeolla and Gyeongsang provinces snatched the top posts in the Moon administration while those from Seoul dwindled. Those who graduated from the prestigious Kyunggi High School in Seoul took 15 percent of the Cabinet of the previous Park Geun-hye administration.
The number of Kyunggi High School alumni, however, dropped to one from 10 in the Moon administration. Those from Seoul High School, another leading high school here, also dwindled to two from seven. Gwangju Jeil High School, Jeonju High School and Kyeongbuk High School, which are top schools in the southern provinces, meanwhile, each had three alumni included in the Moon Cabinet.
Those born in North and South Gyeongsang provinces took 37.3 percent of the Moon Cabinet, while those from North and South Jeolla provinces took 25.4 percent. The number of top officials born in Seoul, however, dropped to 11 in the Moon administration from 19 before.
Those from the country's top three universities - Seoul National University, Korea University and Yonsei University - took 64.2 percent of the Moon Cabinet, surging from 48.5 percent marked in the former Park administration.
Five graduates of the Korea Military Academy were included in the cabinet of former President Park, daughter of former President Park Chung-hee who won power through a military coup. President Moon Cabinet, however, has no alumni of the academy.
The top officials of the Moon administration are on average 58.4 years old, which is similar to the average age of Park's officials.
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