Kim Min-seok Addresses Allegations of Asset Declaration Omissions

On June 20, 2025, Kim Min-seok, the nominee for Prime Minister, responded to allegations from the opposition regarding the omission of asset declarations, stating, "Everything will be clarified. There are no major issues." The People Power Party has criticized Kim for reportedly earning 510 million KRW from his salary as a member of the National Assembly over the past five years, while claiming his expenditures exceeded 1 billion KRW due to various costs including fines, living expenses, donations, and his son's education abroad, demanding he disclose the source of the financial discrepancy.

During a listening session at the Daegu Digital Innovation Promotion Center in Daegu's Suseong District, Kim addressed the claims on BBS Radio. When asked about the alleged 800 million KRW difference between his income and expenses, he refuted the assertion, clarifying that 200 million KRW of that amount was for his son's tuition, which was paid by his ex-wife, not him.

Kim further explained, "In the past five years, there have been weddings, funerals, and two book launch events, which typically involve certain amounts of money for members of the National Assembly. Just matching those experiences would clarify the situation." He added that he is preparing to submit documentation regarding the remaining discrepancy of 500 to 600 million KRW by the deadline set for the National Assembly's confirmation hearing.

In response, Joo Jin-woo, a member of the National Assembly's Special Committee for Confirmation Hearings from the People Power Party, stated on Facebook that even if the 200 million KRW for his son's education is excluded, the cash received from events and book launches exceeds 600 million KRW. He argued that having such cash at home and failing to report it annually constitutes a violation of the Public Service Ethics Act.

The People Power Party convened an emergency general meeting in the National Assembly to discuss strategies for the confirmation hearing, urging President Lee Jae-myung to withdraw Kim's nomination. Kim Yong-tae, the emergency response committee chair, remarked, "Kim is a mirror reflecting the nature of the Lee Jae-myung administration, which lacks morality, humility, and regard for the public. If his appointment proceeds, it could mark the beginning of the collapse of this administration, not just Kim Min-seok alone." Floor leader Song Eon-seok added, "The personnel disasters of the Lee Jae-myung government continue. If Kim becomes Prime Minister, moral and ethical judgment in public service will vanish."