'Coin 10 billion reporting controversy' Kim Nam-guk acquitted… Prosecution won't appeal

"Prosecutors, it's not a knife to wield as you please"

A verdict of not guilty has been finalized for Kim Nam-guk, Secretary for National Digital Communication at the Presidential Office, who was tried on charges of falsely reporting assets to the National Assembly while concealing the fact that he held virtual assets worth about 10 billion won.

According to the legal community on the 1st, the prosecution did not file an appeal against the appellate court's not-guilty ruling on the 21st of last month. The prosecution's deadline to appeal was until the 29th of last month, and in criminal trials, to seek review by a higher court one must file a notice of appeal or an appeal within seven days from the date of sentencing.

Kim was brought to trial in August last year on charges that he profited from coin investments and, in order to hide this, falsely reported his assets and thereby obstructed the National Assembly Public Official Ethics Committee's review of asset change reports. The trial court (first instance) acquitted Kim, saying, "At the time the charged facts were recorded, virtual assets were not subject to (National Assembly member asset report) registration, so it is difficult to see that there was an obligation to register."

The appellate court also held that, although Kim's omission of details such as coin deposit processes was undesirable, virtual currency was not a subject of asset reporting at the time and therefore was not punishable. The obligation to register virtual assets when public officials of grade 4 or higher, who are required to register assets, file asset reports became mandatory at the end of 2023.

Jang Ji-min, guest reporter, Hankyung.com newsinfo@hankyung.com