The Democratic Party on May 21 publicly demanded the resignation of Yoo Jeong-bok, the People Power Party's candidate for Incheon mayor, following the release of recordings that suggest he may have concealed virtual assets. The party also indicated plans to file a complaint against him.
During a press conference at the National Assembly, lawmakers representing Incheon, including Heo Jong-sik, Noh Jong-myeon, Park Sun-won, and Lee Hoon-ki, unveiled recordings involving an individual identified as A, who is believed to have managed Yoo's virtual assets, and Yoo's spouse, Choi.
According to Noh, the recordings indicate that during Yoo's tenure as mayor in April 2024, A and Choi discussed how to handle asset declarations, including a suggestion to receive virtual assets through the overseas exchange Binance. He further revealed an additional recording, likely made in December 2024, stating, "It is presumed that virtual assets were maintained in an overseas account from April to December. Yoo's claim of 'managing his brother's money' lacks credibility."
Lee added, "Despite the obligation to disclose virtual assets for public officials established in 2023, Yoo failed to report accurately and misled the public with flimsy lies. Immediate compulsory investigations should be conducted, and Yoo must apologize and resign from his candidacy."
The Democratic Party also mentioned that the campaign for Incheon mayor candidate Park Chan-dae is considering additional legal actions, including a formal complaint.
Noh stated, "The campaign's complaint is expected to be filed on May 22. We have been verifying the matter and reviewing legal actions."
* This article has been translated by AI.
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