The Public Morality Management Information System will centrally disclose the assets of South Korean public officials, including cryptocurrencies.
South Korea will launch a unified asset disclosure service for public officials, including cryptocurrency holdings, starting next year, marking a major development.
The Department of Personnel Management announced the move in a press release on December 27.
One-stop service
Currently, asset disclosure by public officials in South Korea is handled separately by different agencies, including the government, the National Assembly, the Supreme Court and the Constitutional Court.
This fragmented system makes it difficult for the public to access comprehensive information on public officials’ assets. However, starting January 1, 2024, asset disclosure information of all public officials will be accessible through a centralized platform called the Public Ethics Administration Information System (PETI).