National Assembly Ethics Review Advisory Committee recommends expulsion of ‘coin controversy’ Kim Nam-guk

On the 20th, the Ethics Review Advisory Committee of the Special Committee on Ethics of the National Assembly recommended the expulsion of Kim Nam-guk, an independent lawmaker who left the Democratic Party due to suspicion of investing in a large amount of virtual assets. This is the highest level of discipline that the Special Ethics Committee can issue. The expulsion of Rep. Kim is confirmed only when more than 200 votes are in favor in the vote of the plenary session of the National Assembly.

Jae-pung Yoo, chairman of the Ethics Review Advisory Committee바카라, said in a briefing at the National Assembly that day, “As a result of a long discussion, I saw the decision as an opinion on the expulsion of Rep. Kim.”

The Ethics Review Advisory Committee found that Congressman Kim had traded virtual assets more than 200 times among the standing committees and subcommittees of the National Assembly. At the end of 2021, Congressman Kim sold virtual assets and held a cash exchange balance of about 9.9 billion won, of which it was confirmed that about 950 million won was withdrawn.

The transactions identified by the Ethics Review Advisory Committee were mainly ‘Wemix’ coin transactions made through the coin exchanges Bithumb and Upbit. It is known that the advisory committee has not secured the so-called ‘Japcoin’ transaction data. Congressman Kim’s total number of virtual asset transactions or amount may be higher.

Controversy over the false explanation of Rep. Kim also arose. Rep. Kim asked, “How much did you trade during the standing committee?” on YouTube’s “Kim Eo-jun’s Humility is Hard News Factory” last May. “About a few thousand won,” he replied, “the amount or number is not important.” Rep. Kim revealed that “the amount withdrawn (from the virtual asset wallet) from January to March 2022 was 4.4 million won,” during his presidential election period, but did not mention the fact that he withdrew 950 million won at the end of December 2021 .

This is the fourth case in which the Ethics Review Advisory Committee recommended expulsion, following independent lawmakers Yoon Mi-hyang, former independent lawmaker Lee Sang-jik, and People’s Power lawmaker Park Deok-heum, in the 21st National Assembly. Rep. Yoon was suspected of misappropriating donations from the Justice and Memory Solidarity, and Rep. Park was suspected of intervening in a family company to win contracts from audited organizations. Rep. Lee, who was charged with breach of trust and embezzlement at Eastar Jet, lost his position as a member of the legislature at trial, and the disciplinary proposal was discarded. The expulsion plan for Rep. Yoon and Park has been pending in the Special Committee on Ethics for 1 year and 6 months.

In order for Rep. Kim to actually be expelled, a resolution by the special committee on ethics at the National Assembly and an anonymous vote at the plenary session must be passed. Even if the expulsion proposal passes the Special Committee on Ethics, the consent of at least two-thirds (200 members) of the current members must be obtained from the plenary vote. In the history of the National Assembly, the only case in which an incumbent member of the National Assembly was expelled was former President Kim Young-sam, who was the leader of the New Democratic Party in 1979. The expulsion of former independent member Kang Yong-seok, who was embroiled in controversy over sexual harassment remarks, was rejected at the 2011 plenary session.

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