Candidate Kim Yong-hyun's Confirmation Hearing... Opposition Likely to Focus on 'Assets'

8 Billion KRW Increase Over 4 Years 6 Months After Discharge
Candidate Did Not Consent to Personal Information from Bank of Korea, etc.

The National Assembly's National Defense Committee will hold a confirmation hearing on the 2nd for Kim Yong-hyun, the nominee for Minister of National Defense, to verify his policy capabilities, security views, and morality. The opposition party is expected to focus on scrutinizing the process of wealth accumulation from his discharge until he became the head of the Presidential Security Service.

Kim Yong-hyun, the nominee for Minister of National Defense, is answering reporters' questions as he arrives at the confirmation hearing preparation team's office set up at the Army Hall in Yongsan-gu, Seoul on the 16th. Photo by Jo Yong-jun jun21@

According to Bu Seung-chan, a member of the National Defense Committee from the Democratic Party of Korea, Kim Yong-hyun, the nominee for Minister of National Defense, retired as a lieutenant general in the Army in November 2017. The declared assets disclosed in February of the following year amounted to 640 million KRW. However, when he was appointed as the head of the Presidential Security Service in August 2022, the declared assets increased to 1.44 billion KRW. This is an increase of 800 million KRW in just six months as of April. The apartment under the nominee's name was valued at 190 million KRW, and deposits under his spouse's name amounted to 390 million KRW.

Representative Bu stated, “The nominee did not submit asset-related documents from the Bank of Korea, Korea Exchange, and other sources, and did not consent to the use of his personal information, so we cannot obtain the data. There are significant suspicions regarding the process of wealth accumulation.” He added, “After his discharge, he failed to report his employment at the law firm Daeryuk Aju, resulting in a fine of 1 million KRW imposed by the Seoul Western District Court. Additionally, he delayed payment of 3.79 million KRW in comprehensive income tax for 2022, only paying it on the 14th of last month, the day after he was nominated as Minister of National Defense.”

In response, the nominee’s side explained, “Cash holdings and consulting fees from private companies are all legitimate assets. The apartment purchased in December 2015 was acquired for residence after discharge and was a real estate transaction conducted through proper procedures for actual residence.”

The opposition party is also expected to raise allegations that Kim exerted external pressure on the investigation of the death of soldier Chae Sang-byeong during his tenure as head of the Presidential Security Service, as well as suspicions that a shaman was involved in the selection of the presidential residence while he served as deputy head of the Blue House Relocation Task Force in 2022.