If you want to be in the upper middle class of Korea a government job is a good way to go. However, I am willing to bet that much of their wealth is tied up in the high real estate prices in Seoul:
About one-third of the ranking public officials at the central government and state-run institutions have more than 2 billion won (US$1.5 million) in personal wealth, an annual government report showed Thursday.
A total of 2,037 senior public officials declared an average of 1.94 billion won in personal assets as of the end of last year, with 31.3 percent holding assets worth over 2 billion won, according to the gazette compiled by the Government Ethics Committee.
It was compiled for the first time after last year’s presidential and local elections.
By amount, 28.8 percent owned assets ranging between 1 to 2 billion won, followed by 18.8 percent whose assets were valued at 500 million won to 1 billion won and 17.1 percent whose assets were between 100-500 million won. Some 3.9 percent declared assets worth below 100 million won.
Seven in 10 officials said their assets increased from a year earlier, mostly due to a rise in property prices.
Yonhap
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