Justice Party Pressures for 'Coin Audit'... "Why Keep Going in Circles?"

Adoption of National Assembly Political Affairs Committee Resolution Uncertain, Passage in Plenary Session Doubtful
Concerns Over Expansion of Controversy to Party if Additional Transactions Revealed

On the 17th, the National Assembly's Political Affairs Committee adopted a resolution on the voluntary reporting and investigation of virtual assets by members of the National Assembly. The Justice Party, which submitted consent forms for information provision from all its members to the Anti-Corruption and Civil Rights Commission, is pressuring the People Power Party and the Democratic Party to join in.

However, it is uncertain whether this resolution will actually pass in the plenary session of the National Assembly. If a full investigation reveals the virtual asset holdings and transaction details of other members, the coin issue could expand from being an individual problem of Representative Kim to a problem for the entire party. The earliest plenary session is scheduled for the 25th, and a resolution submitted to the plenary requires the approval of the majority of the total members to take effect.

The Justice Party submitted consent forms for the provision of personal information related to virtual asset transactions from all its members to the Anti-Corruption and Civil Rights Commission on the 16th, one day earlier. At the same time, it is urging the People Power Party and the Democratic Party to conduct a full investigation related to virtual assets.

[Image source=Yonhap News]

Lee Jeong-mi, leader of the Justice Party, said, "Adopting the resolution was a good move," but also pointed out, "If the two major parties hold a party meeting to resolve and implement a full investigation, it would be a simple matter, so why keep going around in circles?"

On the 17th, through Facebook, Representative Lee stated, "With rumors of all-out lobbying in the National Assembly, we must quickly grasp the actual status of virtual asset transactions by members of the National Assembly and conduct additional investigations on members with revealed suspicions," adding, "Attaching other conditions to the full investigation repeatedly can only be interpreted as an attempt to hide something."

Justice Party member Shim Sang-jung also criticized, saying, "If the two major parties do not respond to the full investigation, suspicion is inevitable." In an interview on the 16th with CPBC Radio's 'Kim Hye-young's News Sympathy,' Representative Shim emphasized, "We must quickly conduct a full investigation and discipline members who have spent a lot of time on private profit, setting clear standards defined by the Constitution and the National Assembly Act regarding the true role of National Assembly members."

Independent lawmaker Kim Nam-guk. [Image source=Yonhap News]

Yoon Jae-ok, floor leader of the People Power Party, told reporters after the party strategy meeting on the 16th, "If the public demands a full investigation, we must comply with the people's order. There is no intention to evade that," but added, "However, it should not be used as a means of diversion."

Yoon's remarks can be interpreted as expressing concern that if a full investigation reveals the coin holdings and transaction details of People Power Party members, the controversy surrounding Representative Kim might be diluted. In this case, the People Power Party is likely to judge that continuing moral attacks on Representative Kim and the Democratic Party is more advantageous than agreeing to a full investigation.

The Democratic Party, which has suffered critical damage to its morality due to controversies over virtual asset investments and money envelope allegations during the party convention, may also view a full investigation as disadvantageous. If the full investigation reveals coin holdings and transaction details of other members within the party, what could have been a personal issue for Representative Kim, resolved within the National Assembly Ethics Committee, could expand into a problem for the entire party. Currently, the People Power Party is strongly criticizing the Kim controversy, labeling it the so-called 'Coin Gate.'

However, as public opinion demanding a full investigation of virtual assets rises, the two major parties may comply. Already, 34 members of the Democratic Party's 'National Solidarity for Economic Democracy and Peaceful Unification' have issued a statement expressing their intention to voluntarily report their virtual asset holdings.

In a statement on the 17th, members of the Minpyeongryeon said, "We will take the lead in raising the ethical awareness of elected officials, including members of the National Assembly, as well as party reform and restoring public trust," adding, "All elected officials affiliated with the Democratic Party, including members of the National Assembly, metropolitan and local government heads, and metropolitan and local council members, must voluntarily report their virtual asset holdings to the central party in accordance with the current property reporting standards. To this end, members of Minpyeongryeon will voluntarily report first."

After issuing the statement, Hong Ik-pyo, leader of Minpyeongryeon, told reporters, "By next week, all members of Minpyeongryeon will submit data on their virtual asset holdings to Party Secretary-General Jo Jeong-sik," adding, "If related information is deliberately omitted or falsified, we will take political responsibility."

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