Korea Commission on Human Rights, 'Wemix Controversy' Kim Nam-guk Legal Interpretation... "Reviewing Conflict of Interest"

The Anti-Corruption and Civil Rights Commission (ACRC) announced on the 9th that it has begun an advisory interpretation to determine whether the case involving Kim Nam-guk, a member of the Democratic Party of Korea, who has been embroiled in controversy for holding WEMIX cryptocurrency worth tens of billions of won, constitutes a conflict of interest.

Democratic Party of Korea lawmaker Kim Nam-guk, who has been embroiled in controversy over holding virtual assets, is entering his office at the National Assembly Members' Office Building in Yeouido, Seoul, on the morning of the 9th. [Image source=Yonhap News]

In a press release on the same day, the ACRC explained, "Regarding the request for an advisory interpretation from some members of the National Assembly about whether (Rep. Kim) has a conflict of interest, we are reviewing it through the usual procedures, consistent with other advisory interpretation cases."

It is known that Rep. Kim, while holding cryptocurrency, co-sponsored a bill to defer cryptocurrency taxation (an amendment to the Income Tax Act) in July 2021 along with nine other members of the same party. The People Power Party criticized this as a conflict of interest and abuse of legislative power.

On the 7th, Rep. Kim explained, "The bill proposal does not violate the conflict of interest law," adding, "If proposing a bill is regulated as a conflict of interest, then a lawmaker with many children proposing welfare benefits for large families would also be considered a conflict of interest."

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