Choi Sang-mok, Responding to Perjury Controversy Over 'Not Replacing Phone': "I Still Have the Old One"

Choi replaced his mobile phone on December 7 last year
Choi: "I changed it due to malfunction... It was not to destroy evidence"
Regarding the U.S. Treasury bond controversy: "I converted foreign currency deposits into foreign currency government bonds"

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, apologized on the 16th amid perjury controversy over his replacement of his mobile phone after the December 3 emergency martial law incident, but defended himself by saying, "I still have the replaced phone. I never intentionally changed it with the purpose of destroying evidence."

Kim Yong-min, a member of the Democratic Party of Korea, questioned Choi during the investigation hearing on the impeachment case of the Deputy Prime Minister held at the National Assembly's Legislation and Judiciary Committee meeting that morning, asking if he had changed his mobile phone and SIM card after the emergency martial law. Choi replied, "No."

Jeong Cheong-rae, the chairman of the Legislation and Judiciary Committee from the Democratic Party, pointed out based on data received from the telecommunications company by lawmaker Jang Kyung-tae's office, saying, "Witness Choi said he did not change (the phone), but the data confirms that it was changed on December 7, right after the 2024 martial law. Is the data incorrect?"

Choi responded, "(Representative Kim) asked if I changed it after the martial law. It is true that I changed it because the (mobile phone) was broken," implying that he replaced it only due to malfunction and that he did not personally make the change.

In response, Representative Jeong gave Choi a chance to answer but insisted that he committed perjury, leading to loud exchanges between the two parties. Park Eun-jung of the Innovation Party demanded that Choi "apologize for the perjury." The People Power Party responded by saying, "Do not intimidate the witness."

Choi repeatedly mentioned, "I did not remember the exact date, but I did not change it intentionally, and I currently have both phones."

Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok is speaking at the hearing on the "Impeachment Investigation of Minister of Economy and Finance Choi Sang-mok" held on April 16 at the National Assembly's Legislation and Judiciary Committee. 2025.4.16 Photo by Kim Hyun-min

Choi was also criticized for selling and then repurchasing U.S. Treasury bonds after being pointed out during the 2023 confirmation hearing.

Choi said, "Although I do not have a lot of assets, I have various things, so I invest in financial assets based on recommendations. However, the financial institution staff did not know about the circumstances like the confirmation hearing, so they recommended a passive portfolio operation of converting foreign currency deposits I had since 2018 as a civilian into foreign currency government bonds. I bought as recommended but did not manage it carefully." When asked about the timing of repurchasing the bonds, he answered, "August 2024."