South Korea’s Kim Byung-ki, a floor leader for the ruling party, is under growing pressure to resign amid allegations of a conflict of interest involving cryptocurrency exchanges. Investigative reports say his private meeting with Dunamu preceded his son’s internship at Bithumb, raising questions about the lawmaker’s influence. A former aide said Kim instructed staff to attack Dunamu after the internship, and another aide said Kim ordered questions targeting Dunamu and its monopoly position. Kim denied any wrongdoing, stating his son’s employment has absolutely nothing to do with him.
The report also alleges that Bithumb’s government relations team received bonuses up to seven times their base salary for securing the hire. Upbit accounted for about 72% of South Korea’s cryptocurrency trading in the first half of 2025, a statistic that heightens regulatory and political attention. The case comes as Naver plans to acquire Dunamu in a $10.3 billion stock swap, a deal that still requires regulatory approval. Kim is expected to address the allegations publicly on December 30, and opposition lawmakers have pressed for his immediate resignation.
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