Kim Ki-hyun "The real 'Jjeonju' must be revealed"
Will it be exposed as 'Coin Gate'?
"Comprehensive investigation after fact-finding"
The People Power Party is launching a full-scale offensive, even mentioning the resignation of Kim Nam-guk, a member of the Democratic Party of Korea, amid allegations of cryptocurrency investment. Cryptocurrency is an issue that resonates with the 20s and 30s generation and could influence next year's general election. Some within the party are calling for a full investigation of all members of the National Assembly, but the leadership has stated that this could be a distraction and that a thorough investigation of Representative Kim should be prioritized.
Within the People Power Party, voices demanding Kim Nam-guk's resignation have emerged. On the 12th, Jang Dong-hyuk, the party's floor spokesperson, said in a statement, "Kim, who is 'addicted to cryptocurrency' and has made dozens of split transactions regardless of hearings or standing committees, must step down from his position as a member of the National Assembly." He added, "It is time to keep the promise made to the entire nation to stake his political life and all his assets. Instead of protecting cryptocurrency, he should protect the last remaining conscience as a public official."
Representative Yoo Kyung-jun also wrote on his Facebook on the same day, "At this point, I hope he understands the people's feelings and decides on his own position," and urged, "The Democratic Party should take responsible measures regarding Kim Nam-guk and, together with the opposition, promptly pass the 'Kim Nam-guk Prevention Act' that I proposed, which adds virtual assets to the disclosure requirements for members of the National Assembly."
At the People Power Party's floor strategy meeting held at the National Assembly, there was a call for a full investigation of cryptocurrency holdings among all members of the National Assembly. Ryu Seong-geol, the ranking member of the Strategy and Finance Committee, said, "In the past, the National Assembly conducted a full investigation of all members regarding real estate speculation allegations with their consent," and added, "Today, I publicly demand a full investigation of cryptocurrency holdings for all members of the National Assembly."
Lee Yong-ho, the ranking member of the Culture, Sports and Tourism Committee, also criticized, "In South Korea, game development incorporating technologies such as P2E, metaverse, blockchain, and augmented reality is urgent, but the gaming industry has fallen into the quagmire of Kim Nam-guk." He urged, "The Democratic Party should promptly refer Kim's cryptocurrency allegations to the prosecution. A self-investigation will only waste time and fail to properly clarify the facts." Lee also proposed a full investigation of all members' cryptocurrency holdings and transaction histories.
However, the leadership expressed concerns that such proposals might hinder the clarification of the allegations. After the floor meeting, Yoon Jae-ok, the floor leader, told reporters, "There is a risk that the issue of Kim Nam-guk's cryptocurrency could be diluted as a means of distraction. While there is no reason to oppose a full investigation, clarifying the allegations should come first."
This is because as allegations related to Kim's cryptocurrency continue to surface, there are even suggestions that cryptocurrency was used in legislative lobbying, spreading into what is being called the 'Coin Gate' scandal.
Kim Ki-hyun, leader of the People Power Party, is delivering a congratulatory speech at the 40th anniversary commemorative ceremony of the National Assembly Jeonggakhoe held at the National Assembly Members' Office Building on the 10th. Photo by Kim Hyun-min kimhyun81@
Lee Yang-su, the senior deputy floor leader, emphasized at the meeting, "Kim not only participated in proposing a bill to postpone cryptocurrency taxation, which is one of the conflict of interest allegations, but also bills that could directly affect cryptocurrency prices," and stressed, "'Kim Nam-guk Coin Gate' must be thoroughly investigated by the prosecution through a compulsory investigation to uncover the truth."
Kim Ki-hyun, the leader of the People Power Party, also said to reporters after completing a public welfare schedule in Seongdong-gu, Seoul, "The core of this issue is where the funds originated and who the actual 'money master' is," adding, "There is a possibility that the source of funds is not Representative Kim but a third party, so a thorough investigation is necessary."
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