Asset Disclosure Omissions, Falsified Credentials Stir Northern Gyeonggi Voters

Dongducheon Mayoral Candidate Lee In-kyu's Career and Assets Found Inaccurate Yeoncheon County Chief Candidate Park Chung-sik Embroiled in AICPA Credentials Dispute Voter Confusion Persists Despite Explanations of "Clerical Errors" and "Differing Interpretations"

Society|
|
By Lee Kyung-hwan
||
Notice from the Gyeonggi Provincial Election Commission regarding Dongducheon Mayor Lee In-kyu's career and assets. Photo courtesy of the Park Hyung-deok campaign. - Seoul Economic Daily Society News from South Korea
Notice from the Gyeonggi Provincial Election Commission regarding Dongducheon Mayor Lee In-kyu's career and assets. Photo courtesy of the Park Hyung-deok campaign.

Several Democratic Party of Korea candidates running for local government head positions in northern Gyeonggi Province have been embroiled in controversy over false credentials ahead of the June 3 nationwide local elections. The Gyeonggi Provincial Election Commission has issued successive "not factual" rulings, raising concerns about growing voter confusion.

In the Dongducheon mayoral race, People Power Party candidate Park Hyung-deok filed a criminal complaint with police against Democratic Party candidate Lee In-kyu. Park alleged that Lee declared 596.4 million won in his regular asset disclosure last December but reported only 349.7 million won in this election, omitting approximately 246.7 million won.

Park specifically pointed to eight missing items, including his father's land, Lee's own jeonse rights and vehicle, two vehicles owned by his spouse, and his eldest son's vehicle, savings, and virtual assets.

Lee apologized, saying "some items were omitted due to clerical errors." He added, "There is no reason to deliberately omit assets from election publications when they have already been publicly disclosed through the official gazette."

The Gyeonggi Provincial Election Commission officially ruled that the asset details and some career credentials listed on Lee's campaign posters and publications did not correspond to the facts. The commission determined that both his "career at Shinheung High School (teacher to principal, 31 years)" and his "total assets of approximately 349.71 million won" were not factual.

Ruling by the Gyeonggi Provincial Election Commission. Photo courtesy of the Kim Deok-hyun campaign. - Seoul Economic Daily Society News from South Korea
Ruling by the Gyeonggi Provincial Election Commission. Photo courtesy of the Kim Deok-hyun campaign.

A similar ruling was issued in the Yeoncheon County chief race. The commission determined that the "American Institute of Certified Public Accountants (AICPA)" credential listed by Democratic Party candidate Park Chung-sik in his election publications did not correspond to the facts.

Park's camp said, "It is true that he passed all four subjects of the AICPA exam," while accepting the commission's ruling and pledging to make corrections. His campaign committee explained that "the issue is not whether he passed the exam, but a difference in interpretation regarding how the title was used."

The election commission ordered five copies of the ruling notices to be posted at each early voting station and polling station in the relevant electoral districts.

Article 250 of the Public Official Election Act stipulates that anyone who publishes false information regarding a candidate's assets for the purpose of getting elected shall be punished by up to five years in prison or a fine of up to 30 million won. A finalized fine of 1 million won or more results in nullification of the election.

Democratic Party lawmaker Lee Byung-jin was indicted on charges of omitting some assets in his disclosure during the 22nd general election and had his election nullified by the Supreme Court in January. As a result, the number of districts holding parliamentary by-elections alongside the June 3 local elections has increased to four.

The People Power Party has launched concentrated attacks on the morality of Democratic Party candidates, calling the omissions "acts that distort voters' judgment." While the Democratic Party maintains that the issues stem from "clerical errors," voter confusion appears inevitable amid the chain of controversies erupting just days before the election.

Original reporting by Lee Kyung-hwan for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

AI KEY

Preview
Korean Corporate Intelligence HubKOSPI · KOSDAQ · 12 sectors

A live, cap-weighted view of every KOSPI and KOSDAQ sector, with same-day Korean reporting distilled by company — built for foreign investors, correspondents and analysts who need to scan Korea before the next session.

Korea Chaebol Tree

Preview
Families Behind the GroupsKFTC May 2026 · DART filings

An English-first interactive map of Samsung, SK, Hyundai, LG and Lotte — built for foreign investors, correspondents and analysts. Korea translates companies into English. We translate the families behind them.

SIGNAL

Pre-register
English Edition · Capital MarketsM&A · IPO · PE · Fund Flows

Pre-register for SIGNAL English Edition — a premium subscription bringing Korean capital markets coverage (M&A, IPOs, private equity, fund flows) to global institutional investors. First access to the 50% introductory rate.