South Korean Public Officials Required to Declare Virtual Assets

According to Foresight News, South Korea's Public Officials Ethics Act requires approximately 290,000 public officials to declare their own, their spouse's, and their direct relatives' property changes every year in February. The reported assets include real estate, securities, bonds, debts, deposits, antiques and artworks, membership rights, and intellectual property. Starting this year, a new virtual asset category has been added, and those obligated to register their assets must report all virtual assets and deposits they hold.