1 in 3 Senior Officials Still Real Estate Billionaires

One in every three senior officials in the Moon Jae-in administration has more than two homes, suggesting that the gravy train has not stopped with the ouster of ex-President Park Geun-hye.

The Moon administration has declared war against real estate speculation and the acquisition of multiple homes, but many vice ministers or higher still have second and third homes.

Of the 206 presidential secretaries and higher-level officials at Cheong Wa Dae as well as vice-ministerial or higher-level officials at government agencies, 71 have more than two homes in their own or spouse's name, according to asset declarations published by the Government Ethics Committee on Thursday.

Some 65 have a home in one of the three most expensive districts in Seoul -- Gangnam, Seocho, and Songpa.

President Moon Jae-in now only has one house in the southern city of Yangsan after he sold another in Seoul last December. Moon declared assets worth W1.88 billion, up W57.72 million since he reported to the committee after he was inaugurated last August. His and first lady Kim Jung-sook's savings grew by W477 million from last year, but the value of his real estate fell by about W300 million due to the sale.

The fattest cat at Cheong Wa Dae is chief presidential policy secretary Jang Ha-sung, who declared assets worth W9.63 billion. Next come Cha Young-hwan, the presidential secretary for economic policy, with W7.82 billion, and Cho Kuk, the presidential secretary for civil affairs, with W5.33 billion.

The 53 senior officials at Cheong Wa Dae including Moon are on average worth W1.5 billion.