Police are investigating ruling party lawmaker Kim Byung-kee for allegedly attacking Upbit after his son joined Bithumb. Kim, a former intelligence agency personnel director, faces nine corruption scandals including alleged nepotism in government hiring.
The aide told investigators Kim met with Dunamu’s CEO multiple times between September and November 2024, bringing his younger son, one of his two sons, to dinner meetings. Kim also met Bithumb’s leadership in November 2024. His son ultimately joined Bithumb—not Dunamu—in January 2025.
What followed was a dramatic shift. The aide stated Kim instructed staff to prepare questions attacking Dunamu’s market dominance, repeatedly saying the company “needs to be taught a lesson” and should be “shut down.”
In February 2025, Kim formally questioned the Financial Services Commission chairman about Dunamu’s monopolistic practices. The FSC chief responded that he would consult with the Fair Trade Commission on regulatory measures.
The former aide told police, “I believe he made negative inquiries against a competitor because his son joined Bithumb.” Kim allegedly intervened to secure his elder son’s employment at the NIS in 2016—the same agency where Kim built his career.
A leaked recording showed Kim’s wife pressuring an NIS official, saying she needed “confirmation” her son would be hired. The official allegedly promised to create a special recruitment process around the son. Four months later, the son was hired through precisely such a process.
Kim has denied wrongdoing. The investigation continues.
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