Public Officials Must Report Regular Asset Changes Including Virtual Assets by the 28th of Next Month

Approximately 300,000 individuals, including national and local political appointees and public officials of grade 4 or higher, are required to report regular asset changes, including virtual assets (cryptocurrency) and virtual asset deposits, by the 28th of next month.

On the 1st, the Ministry of Personnel Management announced that it would receive the '2025 Public Officials Regular Asset Change Report' through the Public Officials Ethics System with this content.

The subjects include national and local political appointees, public officials of grade 4 or higher, police, fire, national tax, customs, and other specific fields of grade 7 or higher, real estate-related public officials, and executives and employees of public institutions.

Notably, from this year, for those who consent to provide information, financial, real estate, virtual asset, membership, and vehicle ownership information will be automatically provided, simplifying the reporting process.

Assets that must be reported include ownership rights, surface rights, and lease rights related to real estate, cash over 10 million won (including checks), deposits, insurance, stocks, government bonds, securities, bonds, debts, gold and platinum totaling over 5 million won per owner. Additionally, jewelry over 5 million won per item, antiques, artworks, memberships over 5 million won per item, intellectual property rights with annual income over 10 million won per owner, all virtual assets, and virtual asset deposits are also mandatory reportable assets.

The asset change details of those subject to property disclosure, including the government, National Assembly, Supreme Court, Constitutional Court, Central Election Commission, and local governments, will be disclosed in the Public Officials Ethics System at the end of March.

The Government Officials Ethics Committee will conduct reviews based on the asset reports.