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Lawmakers amass stock wealth

Posted August. 01, 2000 13:20,   

한국어

It has been revealed that some members of the National Assembly hold a great deal of stocks in blue-chip companies that are soaring to new heights.

Although the total amount as reported in their annual statements of wealth and property is not considerable, as they are only required to report the face values of their stocks, when taking the growth potential and external market forces into account, the actual amount could be much greater than reported.

According to an anonymous source in the financial industry, as the members of the National Assembly have greater access to information not readily available to the general public, there needs to be a restriction placed on investments by lawmakers to prevent them from gobbling up the stocks of up-and-coming companies.

However, others have pointed out that as the information that they have is public, their stock investments are within the bounds of personal investment and therefore are clean and legal.