'6 Billion Coin' Kim Nam-guk's Public Apology: "I Should Have Apologized Sooner..."

Kim Nam-guk, a member of the Democratic Party of Korea, issued a public apology on the 9th regarding the cryptocurrency controversy. He stated that he failed to show a responsible attitude as he focused solely on explanations and expressed his intention to sincerely cooperate with the party-level investigation for the time being.

On the 9th, Kim posted on social media (SNS), "I apologize for causing concern to the people."

He said, "I am sorry for causing concern to the people over the past few days. Amid the livelihood crisis, I failed to show an image that meets the public’s expectations as a public official. I sincerely apologize."

Kim explained, "I should have apologized to the public earlier, but I focused only on explanations out of a feeling of unfairness, so I did not show a responsible attitude." He added, "Although I explained in detail through a statement, all transactions were transparently conducted only through my wallet with accounts verified by real-name authentication. The claims that I used insider information or inherited or received cryptocurrency as a gift are baseless falsehoods. I have also fully submitted all supporting documents to the party."

Regarding future plans, he said, "For the time being, I will actively participate in the party’s investigation, and if there are any additional materials requested, I will sincerely submit them."

[Image source=Yonhap News]

On the 5th, it was revealed through media reports that Kim held cryptocurrency worth about 6 billion won that was not disclosed in his public official asset declaration. Cryptocurrency is excluded from the current public official asset disclosure system, so this asset was not revealed in the declaration. The controversy centered on whether Kim’s cryptocurrency investment, the use of insider information, and the bill he proposed to defer taxation on cryptocurrency constitute a conflict of interest.

Song Gap-seok, a Supreme Council member of the Democratic Party, commented on the controversy via SNS, saying, "It is not something to be proud of just because there is no illegal or illicit activity. It is something to be ashamed of, to reflect on, and to apologize for." Song urged, "Stop actions that erode public trust in the Democratic Party through statements that are off-topic and insufficient explanations. I ask that you bow your head in apology to the public and party members and disclose all related information."

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