[단독] Government, 7th-level public officials also reviewed mandatory property registration…Debated at the real estate minister’s meeting on the 17th

Input 2021.03.18 06:00

Property registration for public officials, expanded to level 7 or higher
Policy to strengthen property management based on the police and the National Tax Service
Includes not only real estate but also condo/golf membership
Opinions of level 9 or higher are also coming out.

In order to prevent the recurrence of the land dumping of Korea Land and Housing Corporation (LH) employees, the government is actively considering reducing the standard for property registration positions from’secretary (level 4) or higher’ to’level 7 or higher’.

According to the Ministry of Strategy and Finance and the government on the 18th, it is known that the 17th meeting of ministers concerned with real estate market inspection on the 17th discussed ways to lower the standard for property registration of public officials from level 4 or higher to level 7 or higher or 9 or higher. In addition, their property registration list is planning to expand not only the land in question, but also housing and sale rights, resorts and condos, golf courses, and health membership rights.

A government official said, “With this incident, we are reviewing intensive measures to restore the reliability of public officials’ property formation,” and “I know that measures beyond imagination are being discussed at the real estate relations ministers’ meeting.” He said, “There are many discussions about whether the subject of property disclosure should be level 7 or higher, or whether to include lower-level positions.”

The meeting was attended by Deputy Prime Minister Hong, Minister of Land, Infrastructure and Transport Byun Chang-heum, Minister of Agriculture, Forestry, Livestock and Food, Kim Hyun-soo, Vice Chairman of the Financial Services Commission Do Gyu-sang, Deputy Chief of Human Resources Innovation Department Kim Woo-ho, and National Tax Service Commissioner Kim Dae-ji. In particular, it is known that the public sector measures to prevent the recurrence of the LH incident were discussed in depth at the meeting of related ministers (Noxil Meeting) held on the previous day as Director Hwang Seo-jong attended.

Until now, the government’s property registration targets have been government officials of state and local governments, public officials of level 4 or higher, superintendent of education, judges and prosecutors, officers with a colonel or higher, heads of public enterprises, and executives of public service-related organizations. When the property registration season comes, each ministry receives a financial information agreement from the target person and searches real estate and assets such as stocks, funds, and deposits in the name of the target person or spouse.

The government is discussing two proposals for the scope of property registration: grade 7 or higher and grade 9 or higher. However, in certain fields such as police, firefighting, national tariffs, customs, etc., public officials of level 7 or higher are also registering their properties, and a proposal to set general public officials to level 7 or higher is being considered promisingly.

However, it is reported that some opinions that property registration is necessary for all public officials, such as 9th grade or higher, as the moral hazard of public officials caused by the LH incident caused public resentment.

In addition, it is expected that not only public officials themselves, but also spouses and direct relatives will be subject to property registration. In addition, for employees of public institutions, we are discussing the standards and rank system of institutions that register property.

Like high-ranking public officials with a high-ranking civil service (Grade 1 or Level 1) or higher, it is under consideration whether or not the details of property registration are disclosed to the outside. However, it is very unlikely that lower-level public officials will be included in the disclosure because the current level 2~4 public officials are also not subject to disclosure.

In addition, it is known that public officials and executives of public institutions related to real estate business are also pursuing a plan to make it mandatory to report to the head of the agency whenever real estate transactions are made. Similar to the property registration system, we are reviewing measures to target the report to the person, spouse, and direct descendants.

A government official said, “The list of properties to be registered at meetings related to ministries is constantly being added,” he said. “It is expected to have a large property registration system for not only public officials but also executives and employees of public institutions.”