Hong Joon-pyo "Coin Tax Deferral Legislative Power Misuse" Kim Nam-guk "Also Proposed by Hong"

Kim Nam-guk Facebook Post
"Hong Also Co-proposes Virtual Asset Grace Period Bill"

Daegu Mayor Hong Jun-pyo criticized Kim Nam-guk, a member of the Democratic Party of Korea, who is embroiled in controversy over holding cryptocurrency worth around 6 billion won, accusing him of abusing legislative power. In response, Kim said, "I have never abused legislative power to protect my assets."

On the 8th, Kim posted on his Facebook, "Mayor Hong also co-sponsored the virtual asset grace period bill, and I simply co-sponsored it because I felt the same legislative necessity," he said. Kim countered, "If this is a conflict of interest, then lawmakers who own multiple homes rushing to reduce the comprehensive real estate tax is a more direct conflict of interest."

Kim Nam-guk, Member of the Democratic Party of Korea. Photo by Yonhap News Agency

Earlier, Mayor Hong Jun-pyo targeted Kim, saying, "If you promote youth politics but dreamed of making a fortune through cryptocurrency trading, wouldn't it be better to quit being a lawmaker and instead join the money speculation front?" He added, "If you even took the lead in postponing taxation on that, isn't that an abuse of legislative power for protecting your own assets rather than exercising legislative authority?"

Furthermore, Kim emphasized the legitimacy of his investment. He said, "I have never invested virtual currency with special activity funds. I used the proceeds from selling stocks I held as the initial investment principal," adding, "I have neither borrowed money from anyone nor received any transfers. All transactions were made through real-name accounts, and the entire transaction process can be transparently verified."

This content was produced with the assistance of AI translation services.