South Korean police searched the residence of former Incheon Mayor Yoo Jeong-bok on suspicion of concealing virtual assets.

On July 28, according to Yonhap News, South Korean police conducted a seizure and search of the residence of former Incheon Mayor Yoo Jeong-bok and the general affairs department office of the Incheon City Hall to investigate the case of alleged "concealment of virtual assets" during the June 3 local elections. Police have summoned Yoo Jeong-bok and his wife for investigation, and also questioned individuals from the side of the current Incheon Mayor Park Chan-dae, who reported the case. The Yoo Jeong-bok couple is accused of transferring 21,000 virtual assets (specific currencies not disclosed) they held to overseas exchanges and intentionally omitting them in the property declaration of the local election candidate. The Incheon mayoral election campaign committee reported the case to the police more than ten days before the election. The Incheon City Election Management Committee subsequently submitted a complaint for alleged violation of election law, and on the day before the election (June 2), it determined that Yoo Jeong-bok's declared property was approximately 78 million Korean won less than the actual amount and requested a correction notice.