Prime Minister Nominee Kim Min-seok Addresses Allegations of Asset Declaration Omissions

On June 20, Prime Minister nominee Kim Min-seok responded to allegations from the opposition regarding 'omissions in 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 discussion on BBS Radio, Kim addressed claims of an 800 million KRW gap between his income and expenses, asserting, "That claim is incorrect. Of the 800 million KRW mentioned by the opposition, 200 million KRW is for my child's tuition, which I did not pay; it was covered by my ex-wife."

He 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 figures would clarify the situation." He added that he is preparing to submit documentation regarding the remaining 500 to 600 million KRW discrepancy 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 on Personnel Hearings from the People Power Party, stated on Facebook, "Even if we exclude the 200 million KRW for the child's tuition as Kim claims, the cash received from events and book launches exceeds 600 million KRW. This implies that he has been hoarding cash at home and has failed to report his assets annually, which 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 Kim's appointment proceeds, it could mark the beginning of the collapse of this administration, not just for Kim Min-seok." 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 will vanish from public service."