Prime Minister nominee Kim Boo-kyum has denied involvement in allegations that his daughter and son-in-law received preferential treatment while investing in a fund run by the now-defunct Lime Asset Management.
Kim noted on Friday his son-in-law handles the couple's finances and indicated he could not understand why their financial situation was being brought up during his confirmation hearing.
The nominee said he wouldn't have gotten to where he is today by bending the rules or abusing authority.
The statements come as Kim's daughter, son-in-law and two grandchildren were found to have invested one-point-two billion won in a customized fund operated by Lime. Unlike other funds, investors were allowed to redeem everyday without a fee.
According to the main opposition People Power Party(PPP), EM Networks, a KOSDAQ-listed EV parts company linked to Lee Jong-pil, Lime's former vice chief, also invested in the fund. EM Networks had received one-point-45 billion won in state subsidies.