Justice Minister nominee Rep. Kim Seung-won on Tuesday rejected allegations connecting him to a stock manipulation scheme, citing that very controversy as a reason to back the ruling bloc's push for criminal justice overhaul.
"Based on my belief that the investigative power is the most potent form of state power and should not be abused as such, I will do my best to ensure that such a state power is fairly exercised, while upholding political neutrality," Kim said at Tuesday's confirmation hearing when asked about the allegations against him.
Kim also claimed the prosecution had selectively conducted "sweeping investigations targeting figures from the Democratic Party of Korea, including myself," while turning a blind eye to similar crimes committed by friendly politicians when former President Yoon Suk Yeol was in power.
Kim, a two-term lawmaker of the ruling Democratic Party, was nominated to lead the ministry overseeing the criminal justice overhaul. At the time of his nomination in August, Kim was a member of the Legislation and Judiciary Committee.
Kim is accused of conveying a lobbyist's request that drug authorities approve clinical trials for Genencell in October 2021.
As soon as the authorities approved the drug developer's clinical trials later that month, Sejong Medical, a company listed in South Korea that had earlier announced an investment in Genencell, saw severe fluctuations in its stock price until ultimately delisting from the Korea Exchange early this year.
The prosecution later cleared Genencell founder Kang Se-chan of his fraud charges, citing lack of evidence. However, the People Power Party and some small stock investors who had bought Sejong Medical shares have claimed that a pump-and-dump scheme was in place.
Kim denied speculations that his request to the drug authorities was meant to allow the lobbyist, Genencell and its investors to pursue gains.
Nominee Kim was also under fire for his alleged ties to a court judge who had rejected an arrest warrant against Genecell founder Kang, as Kim was found to have hired the court judge's son.
Kim sided with claims from Democratic Party committee members that the recent revelations were based on confidential information held by the prosecution. The Democratic Party has targeted independent lawmaker Rep. Han Dong-hoon, who spearheaded the move to divulge evidence reinforcing claims about Kim's role in the alleged stock manipulation case.
The ruling party and Kim accused Han of resurrecting the practice of the prosecution abusing their power and breaching the human rights of the accused.
"I believe we must lay bare how such sensitive information found its way to Han," Kim said.
"If I become Minister of Justice, I intend to conduct a thorough review to ensure the protection of universal human rights. ... I will do my utmost to ensure the criminal justice system fully upholds its fundamental mission as a defender of human rights."
Asked about claims that Kim had abused his power as a lawmaker to defer his indictment, Kim said he seeks to remedy the prosecution's decision by filing a constitutional complaint, based on his belief that he was innocent.
He added that it would have been "nonsense" to use his power to defer his indictment at the time when he was protesting Yoon's invocation of martial law in 2024.
None of the 44 witnesses and four reference witnesses requested by the People Power Party appeared at Kim's confirmation hearing due to the Democratic Party's rejection.
People Power Party Rep. Park Hyeung-soo said during the confirmation hearing that among the rejected witnesses his party requested were key figures including the lobbyist, Genencell founder and officials of drug authorities.
Kim, in the meantime, also denied that his wife and siblings had received unfair treatment through the operation of a community cooperative dedicated to running a facility for children with developmental disability.
Shedding tears, Kim denied the allegations, saying the community cooperative had not received unfair treatment and that it was not meant to pursue personal gains of the family. He added that the People Power Party's claims "can deeply hurt the caregivers."
Along with Kim, confirmation hearings for Lee Hyoung-il, nominee for deputy prime minister for economic affairs and minister of finance and economy, and Democratic Party Rep. Lee So-young, who was picked to lead the SMEs and startups ministry, were concurrently held Tuesday.
consnow@heraldcorp.com
