Korean police search former Incheon mayor’s residence over alleged concealment of 21,000 crypto assets

Odaily Planet Daily News: South Korean police have searched the residence of former Incheon Mayor Yoo Jeong-bok and the Incheon City Government office, seizing phones, computers, and other materials. Yoo Jeong-bok and his wife are accused of transferring approximately 21,000 crypto assets to an overseas exchange and deliberately omitting them from their asset declarations as candidates in local elections. The Incheon Election Commission determined they violated election laws, demanding a correction to the asset disclosure the day before the election, and stated their actual assets were approximately 78 million Korean won less than declared.