Democratic Party Urges Kim Nam-guk to Sell Virtual Assets... Internal Investigation Team to Probe Facts

Kwon Chil-seung "Sale Recommendation, Believes the Other Party Will Comply"

The Democratic Party of Korea has decided to urge Representative Kim Nam-guk, who is under suspicion of a "6 billion won coin investment," to sell his held virtual assets.

On the 10th, Kwon Chil-seung, the senior spokesperson of the Democratic Party, met with reporters after the on-site Supreme Council meeting held in Daegu and said, "We have urged (Representative Kim) to sell the virtual assets he holds, and it seems he will comply."

The party has decided to form an internal investigation team to conduct a fact-finding investigation.

Senior Spokesperson Kwon explained, "Senior Deputy Secretary-General Kim Byung-gi will lead the investigation team to promptly investigate the facts," adding, "Since the coin issue is difficult for the general public to understand, external experts with specialized knowledge may join if necessary."

Lee Jae-myung, leader of the Democratic Party of Korea, is attending the Daegu on-site Supreme Council meeting held at the Democratic Party Daegu City Headquarters in Jung-gu, Daegu, on the morning of the 10th.
[Image source=Yonhap News]

Despite Representative Kim's explanations, the related suspicions have not been resolved, and it appears that there is a sense of concern within the party as well. Senior Spokesperson Kwon conveyed the atmosphere, saying, "We thought some parts related to asset declaration had been somewhat explained, but new suspicions such as when the assets were purchased and whether insider information was used have been raised," and "There was a recognition that such matters need to be thoroughly examined."

The decision to form a separate fact-finding investigation team instead of the party's Ethics Inspection Unit seems to reflect the complexity and expertise required for the matter.

The party also plans to accelerate the full-scale internal investigation and discussions on separate institutional improvements. Regarding the party's full investigation of virtual assets, Senior Spokesperson Kwon responded, "The leadership will also review it appropriately."

Earlier, The Better Future, the largest policy opinion and political action group within the Democratic Party, also requested a party-level fact-finding investigation into the controversy surrounding Representative Kim through a statement. The Better Future proposed that "the party leadership immediately commence a swift and thorough investigation at the party level, including the Ethics Inspection Unit, regarding the raised coin investment suspicions and controversies," and "after a preemptive full investigation by the Democratic Party, proceed with an investigation of all members of the National Assembly." Additionally, they proposed that the amendment to the Public Officials Ethics Act, which includes virtual assets as a subject of asset declaration, be processed within this month's extraordinary session.

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