Assets Disclosure by Public Officials: Korea

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Punishment for Breach

What is the punishment for not filing the declaration?

A new entrant’s assets must be filed before (s)he can begin work. If a declaration is not submitted in time, the Ministry of Internal Affairs gives a warning to the official.

What is the penalty for making inaccurate statements on this declaration?

Every single declaration is audited and verified, and 100% compliance is required. If the declaration does not match the known sources of income or if there are other irregularities then the officer’s assets are investigated. The list of officers being in

Can an official be prosecuted for violating this law?

The law has provisions that specify penalties for each violation (e.g., no declaration, under declaration, leakage of confidentiality, and violation of reemployment restriction)