Controversy Over Virtual Assets: Former Lawmaker Kim Nam-kook Claims Innocence in Second Trial

Kim Nam-kook, the former Democratic Party lawmaker (currently serving as the Digital Communication Secretary at the Office of the President), who gained attention due to controversy over his virtual asset (coin) holdings, has denied all allegations during his appellate trial.

On the 17th, at the first hearing of the obstruction of public duties through deception charges held by the Seoul Southern District Court's Criminal Appeals Division 3-1, the former lawmaker strongly asserted his innocence, just as he did in the first trial.

**Firmly Asserting Innocence**

In court, Kim's lawyer stated that they completely deny all allegations presented by the prosecution.

The lawyer acknowledged, "The defendant reflects on the fact that he omitted some assets during the financial investigation," but emphasized, "In principle, the deposits or virtual assets were not subjects to be reported at the time."

Additionally, he stated, "The prosecution has failed to present any evidence for a year and a half," requesting that the appeal be dismissed.

**Emotional Plea for Innocence by Former Lawmaker Kim Nam-kook**

Appearing in court, Kim Nam-kook emotionally implored the judges for his innocence.

He stated, "I have fought hard to avoid any illegal or unlawful activities under the pretext of tradition," highlighting his principles.

He continued, "Helping others is still the happiest thing for me, and I am still participating in politics. I sincerely hope to be given the opportunity to work happily in public office," he said, choking up.

Kim is facing charges of obstructing the asset reporting duties of the National Assembly's Public Officials Ethics Committee by transferring part of his virtual asset account deposits to his bank account and converting the remainder into coins during the asset declaration process for 2021 and 2022.

The prosecution believes that as the coin deposits amount to 9.9 billion won, Kim intentionally committed the act to hide the funds.

**Background of the Acquittal in the First Trial**

In February, the first trial court acquitted Kim.

At that time, the court stated, "According to the Public Officials Ethics Act, virtual assets were not subjects to be registered at the time of asset declaration, and it is difficult to see that the defendant had an obligation to register those assets," and "There are aspects that make it difficult to believe that Kim exercised any influence."

The court further explained, "The Public Officials Ethics Act targets registered assets, and relates to the registered assets, not extending to the total assets actually held by the defendant," adding, "Even so, it is not easy to conclude that the committee's review authority was obstructed through deception," providing the basis for the acquittal.

As discussions continue over the regulation of virtual assets and the public officials' asset declaration system, attention is focused on how the outcome of this appeal will unfold.

Image Source: Former Democratic Party Lawmaker Kim Nam-kook / News1, News1