Police Raid Bithumb over Alleged Job Favoritism for Lawmaker Kim Byung-ki’s Son

[Financial News] Police investigating allegations that Independent lawmaker Kim Byung-ki sought job favors for his second son have launched a compulsory investigation into the virtual asset exchange Bithumb.
The Seoul Metropolitan Police Agency (SMPA) Metropolitan Investigation Unit’s Public Crime Investigation Unit stated that from around 9:40 a.m. on the 24th, it has been executing search and seizure warrants at two locations, including Bithumb’s headquarters in Seoul’s Gangnam District and Bithumb Financial Tower. Investigators are looking into whether any money or other improper benefits were exchanged in connection with Kim’s alleged bribery and his son’s hiring process.
According to police, former aides to Kim Byung-ki testified that between September and November 2024, Kim showed interest in virtual asset companies such as Bithumb and Dunamu Inc. in relation to his son’s employment and attempted to seek hiring favors. Kim’s second son later joined Bithumb in January 2025 and worked there for about six months.
There are also allegations that Kim tried to give Bithumb an advantage over its competitors through his legislative activities in the National Assembly. Police plan to use the seized materials to examine whether the hiring process for his son was proper and whether it involved any quid pro quo.
Police intend to summon Kim Byung-ki for questioning as a suspect over two days, on the 26th and 27th.
425_sama@fnnews.com Reporter Choi Seung-han Reporter