Assets Disclosure by Public Officials: Korea

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Historical Information

Full Name and Date of Effectiveness:

Korean Public Servant's Ethic Law. The law was passed in 1981. , and several amendments were made between 1987 and 2001.

Was this the first time such a law/rule was passed, or is this rule/law linked with any earlier one?

The earlier law was known as Public Servant Ethics Law. Several Amendments between 1987 and 2001 increased coverage and strengthened implementation.

Does the Constitution mandate public officials to disclose their assets?

No

Coverage of Law/Rule

To what categories of civil servants or appointed officials is this law/rule applicable?

The law covers appointed officials in Ranks 1 to 4 (i.e. top and middle ranks of officials, who are categorized in Ranks 1 through 9.) Civil service retirees are also required to file their declarations for five years after they have retired.

To what categories of elected officials is this law/rule applicable?

The same law that covers civil servants also covers the prime minister, the Cabinet, members of parliament, elected members of local government. All candidates for elections too are required to file declarations, but not under the scrutiny of its validity

If this law/rule is applicable only to appointed officials in top levels, what is the assets declaration requirement of general appointed officials?

Ranks 5 to 9 are not required to disclose assets. However civil servants employed in tax, procurement, and customs in ranks 5 and 6 must also comply with the laws.

Do provincial and local employees follow the same or similar assets declaration law?

It also covers public servants in central, local and provincial governments. It covers all public servants employed in organizations that receive budget support.

Declaration Content

What kind of value of assets must be declared?

Car, cash more than US $500, jewelry, bonds, land, house, club memberships, real estate, stocks, ships, boats.

Is it necessary to include family members’ assets as well?

With the 2001 amendment, all close family members were also included in the law and were required to file their declaration of assets. Korea has a national registry of unique identifying numbers (similar to the SSN in the United States). This makes it easy

Filing Frequency & Method

Do civil servants need to file the information during first entry into public service? And, thereafter at what frequency?

Within the first month of appointment civil servants are required to file their asset declarations. They are then required to update their information every year as well as at each promotion. Civil servants are not recruited round the year but only once a

Can the declaration be filed electronically?

The declaration cannot be filed electronically. It has to be a paper submission. It is a bulky package and all supporting documents are required to be submitted. The form is easily available and is mailed to the civil servant as well. The detailed form in

Declaration Processing

Which agency of government receives and processes public officials' assets declaration?

Each ministry, local governments, central banks, etc has its own Public Servant Ethic Committee PSEC, appointed by its Office of Planning and Management. This committee has nine members, of which five are from outside the department. The external members

If the officials has failed to submit declaration in time or made inconsistent declaration, does the declaration processing authority issue reminder or ask for clarifications / explanations on the declarations?

Yes, the official is allowed to resubmit the declaration if the Committee acknowledges the mistakes are due to unintentional mistakes. This correction is allowed only for a limited period.

How is the declaration's content verified?

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. An outside agency wanting to

How long is the declaration record maintained?

Not stated in the Law

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)

Public Access to Declaration

Does the law/rule state that the public can access this information?

The declarations made by the top three ranks of officials (1 to 3) are published by the government in a national public gazette.

If the law/rule mentions public access to this information, does it also state how the public can access this information?

The public gazettes are available in public libraries. The gazette publications are also widely reported in the press.