South 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 mobile phones, computers, and other materials. Yoo Jeong-bok and his wife are accused of transferring approximately 21,000 crypto assets held by them to an overseas exchange and deliberately omitting them from their property declarations as candidates in local elections. The Incheon City Election Management Committee determined that the couple is suspected of violating election laws and demanded a correction to their property disclosure one day before the election. They stated that their actual assets were approximately 78 million Korean won less than declared.