Earned 1.2 billion won in four months... Kim Sang-wook reports 5 billion won in assets: "I put all my assets into funds"

[Financial News] Among the newly elected heads of metropolitan local governments nationwide this year, Kim Sang-wook, the Mayor of Ulsan, was found to have the highest total net worth.
According to property registration disclosures for 563 public officials—including newly elected heads of metropolitan and basic local governments, city and provincial superintendents of education, and metropolitan council members in the June 3 local elections—published in the official gazette on the 29th by the Government Public Service Ethics Committee, Mayor Kim reported total assets of 5,024,590,000 won. These included approximately 4,535,000,000 won in deposits under his name and about 103.8 million won in land.
That was the highest amount among the 13 newly elected mayors and provincial governors nationwide. Kim reported 1,945,410,000 won as of the end of last year, when he was a member of the National Assembly. After resigning from the legislature in April to run for Mayor of Ulsan in the June 3 local elections, he reported assets totaling 3,758,500,000 won—an increase of 1,266,090,000 won, or 33.69%, in just four months. 
Mayor Kim's assets increased because his deposits rose by 1,218,470,000 won, from 3,361,970,000 won to 4,580,450,000 won. The stated reason for the change was "changes in the valuation of the funds." In connection with this, Mayor Kim appeared that day on the Democratic Party of Korea's YouTube channel "Minty 07" and explained, "It was a legitimate increase in valuation through fund investments."
Appearing on YouTube to introduce Ulsan's key issues as he marked his 100th day as Mayor of Ulsan, Mayor Kim said, "At midnight today, they announced the asset ranking of metropolitan local government heads, and I came in first. That immediately sparked controversy." He added, "I would like to take this opportunity to tell public officials across the country: If you want to make money, invest in funds."
Mayor Kim continued, "Didn't the president say after taking office last year, 'Lawmakers should invest in funds, too'? From that point on, I put all my assets into funds." He added, "Although they fell considerably afterward, don't take kickbacks—do as the president told you."
[email protected] Kim Hee-sun Reporter