[Edaily Starin Reporter KIM HYUNSIK ] Lee Si-ha, Chairman of the Korea Music Copyright Association (KMCA), disclosed details of his personal assets on the 16th.

The assets disclosed by Chairman Lee include land and buildings registered in his name, as well as deposits, insurance policies, virtual assets, and debts, totaling approximately 1.16 billion won in gross assets and approximately 900 million won in net assets.
After being designated as a public-sector-related organization early last year, the KOMCA imposed a mandatory asset registration requirement on its full-time executives in accordance with relevant laws and regulations. However, the obligation to publicly disclose assets is limited to the heads of institutions and organizations that meet specific requirements under the Public Officials Ethics Act.
Chairman Lee is not legally required to disclose his personal assets to the public. The Association explained, “Chairman Lee decided to voluntarily disclose his assets to clearly demonstrate his commitment to reforming the association by prioritizing transparency and accountability.”
Chairman Lee, who is also a member of the group The Cross, had pledged during last year’s election for the 25th chairman to disclose his assets and copyright royalty details.
Since taking office last February, Chairman Lee has been disclosing his royalty earnings on a monthly basis. In addition, the association live-streams the entire board of directors meeting on YouTube so that members can directly observe key decision-making processes.
Chairman Lee emphasized, “Members can only trust the association if the chairman and the executive board are transparent,” adding, “We will not limit ourselves to information required by law; if members have questions or feel that verification is necessary, the association will take the initiative to proactively disclose the details.”
He continued, “I will disclose details of my assets and royalty income for up to one year after my term ends to ensure that no unnecessary suspicions remain, not only during my tenure but also after I step down.”