Supreme Court Chief Justice Lee Gyun-yong and Unlisted Stock Dividend Income: A Closer Look

2023-08-31 07:12:50

Supreme Court Chief Justice Lee Gyun-yong goes to work at the confirmation hearing preparation office located in Seocho-gu, Seoul on the morning of the 29th. Reporter Ryu Young-joo
On the 31st, Lee Gyun-yong, candidate for Chief Justice of the Supreme Court, announced that the dividend income he had earned over the past three years from his unlisted stocks was about 30 million won.

On this day, Candidate Lee said, “From 2020 to 2022, we received 10.575 million won in dividends each year from Oksan Co., Ltd.” “he said.

Oksan is an unlisted stock company that runs a driver’s license academy and is run by Lee’s wife’s family. Candidate Lee, his spouse, and two children each own 250 shares of Oksan stock.

Candidate Lee’s side said they did not receive dividends from Daesung Motor Academy, another unlisted company in which his family owns shares.

According to the personnel hearing data submitted by Candidate Lee to the National Assembly, Candidate Lee reported 71.86 million won in dividend income from 2020 to 2022. During the same period, the spouse reported 74.25 million won and the daughter reported 24 million won. The total amount of dividend income received by Lee’s family for three years is 170.13 million won.

Candidate Lee’s side emphasized, “The amount of dividend income written on the certificate of income amount of the candidate’s family reflects all fund profits, etc., and not all profits from unlisted stocks.”

He added, “Dividend income that is not subject to comprehensive taxation is not separately recorded.”

Candidate Lee reported a total of 7.23158 billion won for himself and his family property. Candidate Lee had 1.576 billion won, his spouse 4.34467 million won, the eldest son and eldest daughter 786.21 million won and 524.61 million won, respectively.

Previously, Candidate Lee said that there had been omissions in reporting unlisted stocks for the past three years. He explained that he did not know that the evaluation method of unlisted stocks changed from face value to actual transaction price due to the revision of the Enforcement Decree of the Public Service Ethics Act in 2020.

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