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Financial Status of High-Level Officials

Mar 02,2000
The assets of high-level government executives were revealed to the public. The investigation showed that 73 percent of public officials in the administration saw an increase in their assets. Among them, about 129 public officials increased their assets by more than $89,686 last year, especially from gains on the stock market.

On the surface, there is nothing wrong with high-level officials investing in stocks. There should be no controversy if stocks are acquired through transparent, honest means.
All Koreans are free to invest in the Korean Stock Exchange, except employees of supervisory institutes, such as the Stock Supervisory Commission and the Financial Supervisory Commission.
Though it may be legal, it's hardly a pretty sight to see political figures, like ministers and leaders of state-run investment institutes, buying and selling stocks, often under aliases or the names of relatives.
There is also a moral issue in trading stocks related to one's own business.
We need to change the current investigation system, which falls short in conducting a thorough survey and in effecting change.