'Coin Controversy' Kim Nam-guk, Reason Why Ethics Advisory Committee Could Not Reach Disciplinary Conclusion

With "Kim Nam-guk, who did not submit the entire transaction history, should be expelled"
Even if the advisory committee concludes, the Ethics Committee and plenary session must vote

The decision on the disciplinary level for independent lawmaker Kim Nam-guk, who is embroiled in allegations of virtual asset investment, has been postponed by the National Assembly Ethics Review Advisory Committee (Ethics Advisory Committee). It is difficult to make a judgment as additional review is needed for the entire coin transaction history that Kim did not submit. The People Power Party is urging the highest level of discipline, 'expulsion,' citing Kim's failure to comply with the Ethics Advisory Committee's request for materials, but many believe that expulsion is realistically difficult.

The Ethics Advisory Committee held its fourth meeting last month on the 26th at 4 p.m. to discuss the disciplinary level for Kim but failed to reach a conclusion.

After the meeting, Ethics Advisory Committee Chair Yoo Jae-poong told reporters, "We decided to review the materials further and then make a conclusion," adding, "The (virtual asset) transaction history is of significant importance, so we requested the materials last time as well, but Kim did not submit them for various reasons. We will urge him once again to submit them."

Independent lawmaker Kim Nam-guk is speaking at the Education Committee plenary meeting at the National Assembly on June 12. Photo by Kim Hyun-min kimhyun81@

The Ethics Advisory Committee plans to discuss the disciplinary proposal level after additionally verifying Kim's coin transaction history. To this end, the advisory committee will request a 30-day activity period from the Ethics Special Committee, and the next meeting will be held on the afternoon of the 3rd.

Kim maintains that he has faithfully responded to requests to appear before the Ethics Advisory Committee and to submit materials. However, since the grounds for discipline have not been specifically identified, he judged it difficult to acknowledge the relevance and necessity of discipline and therefore did not submit the entire transaction history. Instead, he intends to comply with the virtual asset reporting under the revised National Assembly Act.

On the 27th of last month, Kim stated on Facebook, "Even though I have clarified all vague suspicions and speculative reports in the media regarding the disciplinary proposal, which has not been clearly specified with concrete facts, demanding to see the entire transaction history goes far beyond the scope of the disciplinary proposal and does not conform to general disciplinary procedures," adding, "I plan to submit the virtual asset transaction history through the National Assembly member virtual asset reporting procedure."

According to the supplementary provisions of the amended National Assembly Act passed by the plenary session, current lawmakers must submit their virtual asset holdings and transaction details as of May 30 by June 30 to the Ethics Advisory Committee.

The People Power Party criticizes Kim for not cooperating with the Ethics Advisory Committee's request for materials and is calling for his expulsion from the National Assembly.

Kim Byung-min, a Supreme Council member of the People Power Party, argued that the disciplinary level should be heavier because Kim did not cooperate with the Ethics Advisory Committee's request. In an interview with SBS Radio's 'Kim Tae-hyun's Political Show' on the 27th of last month, Kim Byung-min said, "If he did not submit the materials, isn't that proof that he is not confident and cannot speak proudly?" and added, "If he did not cooperate to this extent, the Ethics Advisory Committee should make the maximum decision possible, which is expulsion."

Independent lawmaker Kim Nam-guk, who left the Democratic Party of Korea amid controversy over virtual asset (cryptocurrency) trading, is leaving his National Assembly office on May 31. Photo by Kim Hyun-min kimhyun81@

Kim Byung-min also claimed that if the disciplinary decision on Kim is delayed, the Ethics Advisory Committee will find it difficult to avoid responsibility. He said, "If the Ethics Advisory Committee does not promptly wrap this up and drags out the time without properly concluding this matter, the main opposition party is currently helping him buy time to evade responsibility," adding, "I think the Ethics Advisory Committee will also find it difficult to avoid criticism regarding this matter."

People Power Party lawmaker Bae Jun-young criticized Kim in an interview with YTN Radio's 'Shin Yul's News Face-off' on the afternoon of the 26th, saying, "Even when conducting drunk driving checks, refusal to be tested results in aggravated punishment for obstructing official duties," and added, "Kim's refusal to submit materials is an admission that he did something wrong."

However, there is also speculation that the highest level of discipline, expulsion, may not be carried out. The disciplinary proposal decided by the Ethics Advisory Committee goes through the Ethics Special Committee subcommittee and the full meeting before the final disciplinary level is determined, which then requires a majority attendance and majority approval in the National Assembly plenary session.

Disciplinary actions by the Ethics Special Committee are divided into four levels: ▲warning in an open meeting ▲apology in an open meeting ▲suspension from attendance for up to 30 days ▲expulsion. Among these, expulsion, the highest level of discipline, requires approval by two-thirds or more of the total members. If the Democratic Party, which holds a majority of seats, opposes, the disciplinary proposal could be nullified.

The disciplinary proposal may not even reach a plenary vote. Since the 21st National Assembly, there have been four disciplinary cases decided by the Ethics Advisory Committee, three of which (Park Deok-heum, Lee Sang-jik, Yoon Mee-hyang) were recommended for expulsion. Excluding former lawmaker Lee Sang-jik, who lost his seat after being sentenced to prison and whose disciplinary proposal was discarded, the disciplinary proposals for Park Deok-heum and Yoon Mee-hyang remain pending in the Ethics Special Committee subcommittee without being processed.

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