Kim Nam-guk, the South Korean lawmaker on the middle of the nation’s “Coin Gate” scandal, is about to affix the federal government of the newly elected South Korean President Lee Jae-myung.
Lee gained the election with a cushty margin earlier this month. He has since begun assembling his cupboard after making a sequence of pro-business crypto and stablecoin-related manifesto pledges.
Kim Nam-guk: Key Ally to Take up Gov’t Place
TV Chosun reported that Kim, a long-time Lee ally, is the nominee for the publish of Presidential Secretary for Digital Communication.
Nevertheless, Kim will first have to beat a large authorized hurdle, because the Coin Gate controversy rumbles on.
Prosecutors initially hoped to attempt Kim on suspicion of insider buying and selling. The lawmaker was believed to have offered cryptoassets whereas serving on a Nationwide Meeting committee that handled crypto-related coverage.
Nevertheless, the prosecution later determined to cost Kim with “obstructing officers in the middle of their duties.” Prosecutors wished Kim to serve a six-month jail time period if discovered responsible.
A Korean court docket has indefinitely postponed President Lee Jae-myung’s retrial on election regulation violation prices, citing the constitutional immunity granted to a sitting president. https://t.co/77zc8O6I1Y
— The Korea Herald 코리아헤럴드 (@TheKoreaHerald) June 9, 2025
Authorized Challenges Stay
Officers alleged that Kim had made “false declarations” about his cryptoassets to the Nationwide Meeting’s Ethics Committee when submitting necessary disclosure paperwork.
Kim was discovered not responsible of the fees at a department of the Seoul Southern District Court docket in early February this yr.
The District Court docket choose, Justice Jeong Woo-yong, mentioned on the time that the prosecution’s case featured “no proof” that Kim had dedicated a criminal offense.
However the Prosecution Service thinks it has a powerful sufficient case to attempt once more. The case will probably be heard on the Southern District Court docket’s Appellate Division subsequent month.
The primary listening to will happen on July 17.
Kim Returning to Court docket in July
Prosecutors proceed to insist that Kim didn’t appropriately declare roughly 9.9 billion gained ($7.3 million) price of crypto within the interval 2021-2022.
With the ruling Democratic Celebration of Korea set to push for an modification to the Legal Process Act to postpone any prison trials involving sitting presidents till they go away workplace, President Lee Jae-myung will doubtless be unaffected throughout his time period by the continuing prison…
— The Korea Herald 코리아헤럴드 (@TheKoreaHerald) June 9, 2025
Nevertheless, Kim and his authorized crew argued that, whereas declaration legal guidelines have since modified (largely on account of the Coin Gate controversy), on the time, he did nothing unsuitable.
Kim briefly left the Democratic Celebration shortly after the scandal broke. However he returned to the occasion beneath Lee’s management.
A number of home media retailers, together with Hankook Ilbo, have reported that Kim is a part of a core seven-member group of Democratic Celebration allies. The group has “supported the President since 2017,” the newspaper wrote.
Their affiliation dates again to the time when Lee made his first bid for the South Korean presidency.
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