Kim Woong: "Kim Nam-guk Didn't Know FIU Mechanism and Just Bought 'Han Dong-hoon's Work'"

"Kim Nam-guk: If Explanation Is True, He Is an Investment Genius... Should Entrust Pension Management"

Kim Nam-guk, a member of the Democratic Party of Korea at the center of the "6 billion won coin" controversy, claimed that the allegations surrounding him are "the work of the 'Han Dong-hoon prosecution'." In response, Kim Ung, a member of the People Power Party, pointed out that this statement was made "without understanding the mechanism of the Financial Intelligence Unit (FIU)."

On the 11th, Kim Ung said through his social media (SNS), "If it were truly the 'work of Han Dong-hoon' as Kim Nam-guk claims, then Minister of Justice Han Dong-hoon would have to be able to manipulate the automated system or Upbit," emphasizing this point.

[Image source=Yonhap News]

He added, "Kim Nam-guk wanted to frame this as a conspiracy between Minister Han and the prosecution, but this case was reported to the prosecution by the FIU after determining it as an 'unusual transaction.' The attempt to 'drag Han Dong-hoon into this' failed because the FIU is the one who requested the investigation," he said.

Kim Ung explained, "Around February to March 2022, the Upbit exchange reported Kim Nam-guk's transactions as suspicious to the FIU. However, not all cases reported by exchanges to the FIU are notified to the prosecution. Only about 2 out of 1,000 suspicious transactions are reported to the prosecution by the FIU," adding, "Also, the FIU cannot know the occupation or identity when detecting suspicious transactions."

The FIU's notification to the prosecution based on Upbit's report was conducted without knowing Kim Nam-guk's identity. He said, "First, when a specific flow is automatically classified in the system, an examination analyst conducts a preliminary investigation. If deemed problematic, a detailed review is carried out through correlation with other data, and only if it is still considered suspicious is it reported to the prosecution. Kim Nam-guk completely misunderstood this mechanism and hastily claimed it was the 'work of Han Dong-hoon.'"

In another SNS post, he sarcastically remarked, "What makes it hard to believe Kim Nam-guk's excuse that it was purely a conventional investment is that if that were true, he would have no reason to hide his investment success. Kim Nam-guk is a genius investor, an investment emperor, a god of investment," mocking him.

Kim Ung continued, "Kim Nam-guk appeared on Kim Eo-jun's News Factory and said his investment started in February 2016 with 80 million won in Ethereum. At that time, Ethereum was not yet traded on domestic cryptocurrency exchanges," and added, "No investor can compare to Kim Nam-guk, who recognized and invested in Ethereum before it was traded, predicted the listing of WEMIX on the exchange, and went all-in with almost all his assets to achieve tremendous high returns."

He concluded, "The issue of pension reform in our country will be resolved. If you just entrust 100 billion won to Kim Nam-guk to manage, everything will be solved. According to Kim Nam-guk's own excuse, that is the case," he added.

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