Choi Dong-seok, head of the Ministry of Personnel Management in South Korea, addressed the complexities surrounding the proposed blind trust system for real estate owned by high-ranking officials. During a press conference on March 11, he explained the government's strategy to ensure transparency in property ownership by requiring officials to disclose details related to real estate transactions during annual financial disclosures. The aim is to increase accountability amid growing scrutiny of multiple property ownership by public officials.

Choi acknowledged the public and political pressure to establish a blind trust system, originally suggested as a potential solution to prevent conflicts of interest by placing real estate assets under third-party management. However, he cited practical difficulties in implementation, including legal complexities related to property ownership, such as cases where properties are registered under multiple names or where owners cannot freely sell the property. These factors complicate the establishment of a straightforward trust system as previously envisioned.

The issue has gained renewed urgency following accusations of real estate speculation among lawmakers and high-ranking officials, leading to calls for reforms to the Ethics in Public Office Act. Organizations like the Economic Justice Action Coalition have advocated for a prohibition on real estate dealings by high-ranking officials in light of these challenges. Recent legislative proposals have emerged, aiming to mandate the sale or blind trust of certain properties owned by public officials, reflecting a strong desire for accountability in public service and the protection of public interests in the real estate sector.