"Violation of Prohibition on Concurrent Positions and Conflict of Interest"
On August 26, the People Power Party submitted a disciplinary request against Democratic Party lawmaker Kim Sangwook, who is suspected of concurrently serving as an internal director at a loan company while holding office as a sitting member of the National Assembly.
Kwak Kyutaek, chairman of the People Power Party’s Legal Advisory Committee, visited the National Assembly Secretariat that day and, after submitting the disciplinary request against Assemblyman Kim, told reporters, “We have submitted the disciplinary proposal to the National Assembly Ethics Committee, citing violations of the National Assembly Act’s prohibition on concurrent positions and conflict of interest regulations.”
People Power Party senior spokesperson Gwak Kyutaek and lawmaker Park Chungkwon submitted a disciplinary proposal against Democratic Party lawmaker Kim Sangwook to the National Assembly Secretariat on the 26th. Photo by Yonhap News
Kwak stated, “We have confirmed that Kim continued to hold a concurrent position as an internal director at a loan company in Ulsan after becoming a lawmaker. If he received a certain salary or gained profits as an internal director, this would also constitute a violation of the prohibition on for-profit activities.”
He added, “Serving as an internal director at a private company while being a lawmaker also violates conflict of interest regulations, which is why we submitted the disciplinary proposal.”
Kwak emphasized, “To be registered as a registered director within a corporation, a personal seal certificate is required. It is impossible for someone to be registered as a director at a company without their knowledge.” He further argued, “The company in question is a loan company. It is highly inappropriate for a member of the National Assembly to serve as an internal director at such a company.”
Previously, Assemblyman Kim addressed the allegations by stating, “When I began my political career, I submitted my resignation and believed that all procedures had been completed. However, due to circumstances on the company’s side, the process was not handled in a timely manner, so they asked me to resend my resignation, which I did.”
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