Disciplinary Case Expected to Be Referred to Ethics Review Committee
Ruling Party to Review Virtual Exchange Bithumb Today
Bithumb: "Kim Nam-guk Did Not Receive EdDrop"
The National Assembly's Special Ethics Committee will hold a plenary meeting on the 30th to initiate disciplinary procedures against Representative Kim Nam-guk, who left the Democratic Party of Korea. Kim has been accused by both ruling and opposition parties over controversies involving his possession and trading of large amounts of virtual assets (coins).
On the morning of the 26th, Yoon Jae-ok, floor leader of the People Power Party, told reporters after a party strategy meeting at the National Assembly, "I was informed that the Ethics Committee plans to convene on the morning of the 30th."
It is expected that the Ethics Committee will refer the disciplinary agenda concerning Representative Kim to the Ethics Review Advisory Committee within the special committee during the plenary meeting on the 30th. According to the National Assembly Act, the Ethics Committee must hear the opinion of the Ethics Review Advisory Committee before reviewing matters related to disciplinary actions against members.
The People Power Party filed a complaint against Representative Kim to the Ethics Committee on the 8th, and the Democratic Party also filed a complaint on the 17th. The 30th, when the meeting will be held, marks the end of the 20-day deliberation period based on the disciplinary proposal submitted by the People Power Party.
According to Article 155 of the National Assembly Act, disciplinary actions against members include ▲warning in a public meeting ▲apology in a public meeting ▲suspension of attendance for up to 30 days ▲expulsion. The disciplinary proposal must be approved by a majority vote in the Ethics Committee plenary meeting and then by two-thirds or more of the total members present in the National Assembly plenary session to be finalized.
The People Power Party is also urging Representative Kim to resign from his position. At the party strategy meeting held that day, Park Dae-chul, chairman of the Policy Committee, said, "If Representative Kim does not voluntarily resign, it is time for both ruling and opposition parties to submit a resolution urging expulsion so that the National Assembly Ethics Committee can promptly expel him."
The only case of expulsion of a sitting member in constitutional history was when former President Kim Young-sam was stripped of his seat in 1979 during his tenure as leader of the New Democratic Party due to political oppression.
People Power Party Holds 3rd Meeting on Kim Nam-guk Coingate... "Did Not Receive Kim Nam-guk Airdrop"
Meanwhile, on the same day, the People Power Party's Coingate Investigation Team held its third plenary meeting at the National Assembly Members' Office Building and received a briefing on current issues from the cryptocurrency exchanges Bithumb and Upbit, which Representative Kim used. The investigation team focused on questioning the possibility that individuals from personal exchanges such as Bithumb leaked coin listing information to Representative Kim. After the meeting, Yoon Chang-hyun, the investigation team secretary and a member of the National Assembly, said, "(Bithumb) initially denied the possibility but stated that they do not rule out individual misconduct related to the leak."
The team also raised suspicions about transactions occurring outside the exchanges. Representative Choi Hyung-doo said, "Previously, Representative Kim's side and the Democratic Party mentioned that he obtained some virtual assets through airdrops, but Bithumb responded that, within the scope they confirmed, no coins were received by Representative Kim through airdrops." He added, "We need to further verify suspicious funds flowing through non-exchange channels and whether suspicious funds are being laundered or withdrawn."
Kim Sung-won, head of the investigation team, stated, "Since it is presumed that Representative Kim Nam-guk has already received all coin transaction records, he should clearly disclose the details and appear before the public to apologize for the national anger and suspicions." He continued, "Upbit showed an attitude as if it was hiding something, and some false answers were revealed. We will summon Upbit CEO Lee Seok-woo again to conduct a thorough investigation."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
