Ministerial Nominee Lee So-young Reports 1.52 Billion Won in Assets, Including Seoul Apartment

Lee So-young, nominated to lead South Korea’s Ministry of SMEs and Startups, reported 1.523803 billion won in assets belonging to herself, her spouse and her mother.

The disclosure submitted to the National Assembly lists Lee’s apartment in Hongje-dong, Seoul, at 616 million won, alongside a 510 million-won rental liability. She also reported a 20 million-won leasehold in a commercial property in Uiwang, 238.65 million won in deposits and 99.322 million won in political funds. Lee rents out the Seoul apartment and lives in Uiwang, making her a nonresident single-home owner.

Her spouse reported total assets of 953.538 million won. These included the 490 million-won leasehold on the Uiwang apartment where the couple lives, a 2024 Hyundai Ioniq 5 valued at 53.09 million won, deposits of 197.348 million won and 213.1 million won in private claims.

Lee’s mother reported 106.293 million won, including a 270 million-won leasehold in a Uiwang home and 19.393 million won in deposits, offset by 183.1 million won in private debt. Lee’s father, who is separated from her mother after their divorce and is out of contact with the family, refused to disclose his assets.

The confirmation documents state that Lee’s spouse lent her mother 183.1 million won interest-free in 2021 for lease funds, without a separate contract or loan agreement. The family’s declared assets have increased by about 870 million won over six years, from 651.17 million won in Lee’s first disclosure after winning election in 2020. The increase reflected the Seoul apartment’s higher assessed value, as well as growing deposits and ETF investments. Lee also disclosed that she previously received an 800,000-won fine for violating election law.