Justice Innovation Party Calls for Kim Yong-nam to Consider His Position Amid Loan Shark Allegations

The Justice Innovation Party criticized Kim Yong-nam, the Democratic Party's candidate for Gyeonggi Pyeongtaek, on May 24, calling him a "three-time disqualified candidate" due to allegations of being involved in loan sharking. They urged him to "seriously consider his position."

Shin Jang-sik, a member of the Justice Innovation Party, held a press conference at the National Assembly, stating, "Kim has betrayed the trust of Pyeongtaek citizens and abandoned the minimum moral integrity required of a public office candidate with his false explanations and evasions. Most importantly, his qualifications as a candidate from the democratic reform camp have been compromised."

Shin pointed out that while Kim denies owning the loan shark business, he admitted to it in a 2021 recording, where he stated, "I own 100% of the shares and earn 300 to 400 million won a year, and all dividends are mine."

Regarding Kim's claim that there were no illegal dividends or profits, Shin questioned, "Is it acceptable for someone aspiring to public office to justify their actions by saying they received 'legal' profits from a loan shark business? The mere fact that he engaged in usury makes him unfit for public office."

Shin also refuted Kim's recent explanation that he had ceased operations and was in the process of closing the business. He stated, "Last year, 'Mansamusa Lending' increased its capital from 300 million to 500 million won to continue its operations and completed a business renewal on May 18 to operate for another three years. His sudden closure announcement after media scrutiny is merely a legal technicality."

Shin urged Kim not to burden the democratic reform camp and to seriously contemplate his position, adding that the Democratic Party should conduct an ethical investigation.

The Democratic Party responded cautiously. Spokesperson Kang Jun-hyun stated after the press conference, "The candidate himself claims that the facts are different, and the party is monitoring the situation closely."

Meanwhile, on the same day, Kim Yong-nam, along with Yoo I-dong of the People Power Party, Jo Guk of the Justice Innovation Party, and Kim Jae-yeon of the Progressive Party, attended a ceremony at Simboksa Temple to celebrate Buddha's birthday.