Police Conclude Bithumb Raid Over Alleged Job Solicitation for Kim Byunggi's Second Son After 9 Hours

Concluded at around 6:40 p.m.
Kim Byunggi to face police questioning for two days on the 26th and 27th

The police investigating independent lawmaker Kim Byunggi over allegations that he solicited a job for his second son have completed a search and seizure of Bithumb, the domestic virtual asset exchange where Kim's son worked, after about nine hours.

The Public Crime Investigation Unit of the Seoul Metropolitan Police Agency conducted a search and seizure from 9:40 a.m. on the 24th at two locations: Bithumb's headquarters office and the Bithumb Financial Tower in Gangnam-gu, Seoul, and completed it at around 6:40 p.m.

Kim Byunggi, former floor leader of the Democratic Party. 2026.1.19 Reporter Kim Hyunmin

The police believe that Representative Kim attempted to solicit personnel favors at two domestic virtual asset exchanges, Upbit and Bithumb, which rank first and second in the market, in order to get his second son hired by a virtual asset-related company. Kim's second son is believed to have joined Bithumb around January 2025 and worked there for about six months.

Based on the materials obtained through the search and seizure, the police plan to determine who ordered and carried out the hiring of the son, and whether the hiring was in fact improper, and then use these findings in their future questioning of Representative Kim.

Earlier this month, in connection with the allegations of job solicitation for Kim's son, the police summoned the former CEO of Dunamu, the operator of Upbit, and two Bithumb executives as reference witnesses.

However, as the investigation is currently at the stage of confirming who was responsible for the hiring and whether there was any job solicitation, it is understood that none of them has yet been converted to suspect status.

Lee Seokwoo, former CEO of Dunamu, who was summoned by the police on February 4, is known to have had several meals with Representative Kim between September and November 2024. The CEO of Bithumb is also reported to have had a dinner engagement with Representative Kim in November 2024.

Meanwhile, Representative Kim is scheduled to appear before the police for his first questioning as a suspect on February 26 and 27.