Bithumb CEO Booked as Bribery Suspect Over Alleged Job Favor for South Korean Lawmaker’s Son

TLDR:

• Seoul police booked Bithumb CEO Lee Jae-won as a bribery suspect following job favor allegations. 
• Lawmaker Kim Byung-kee allegedly solicited his son’s Bithumb employment at a November 2024 dinner. 
• Police suspect Kim targeted rival exchange Dunamu legislatively in exchange for the employment favor. 
• A second Bithumb aide, Mr. A, is also under scrutiny for allegedly being hired at Kim’s request. 

Seoul police have booked Bithumb CEO Lee Jae-won as a bribery suspect following allegations of preferential hiring. Investigators say Lee hired the son of independent lawmaker Kim Byung-kee at the exchange after a direct solicitation.

The Seoul Metropolitan Police Agency’s Public Crime Investigation Unit is leading the probe. Authorities are also examining whether Kim used his legislative position to benefit Bithumb in exchange for the employment favor.

Job Solicitation Allegations at the Center of the Investigation

The case traces back to a November 2024 gathering in Mapo, Seoul. A former aide to lawmaker Kim testified that Kim asked Lee to hire his second son during a dinner meeting with the CEO. Police say the son was subsequently employed at Bithumb following that request.

Investigators previously identified Kim as a bribery suspect during the first search of Bithumb’s Gangnam headquarters in February.

At that stage, Bithumb was treated as a witness. Police later shifted focus to CEO Lee after analyzing seized evidence.

According to Yonhap, the former aide stated that in November 2024, Kim “had a drinking party with CEO Lee at a restaurant in Mapo, Seoul, and solicited his second son’s employment.” The testimony formed a key basis for the ongoing criminal probe against Lee.

On June 8, 2026, police named Lee in a second search warrant targeting Bithumb’s headquarters. The warrant cited bribery charges directly tied to the alleged job arrangement. This escalation marks a turning point in how authorities are treating the exchange’s leadership.

Legislative Conduct Under Scrutiny Alongside Employment Allegations

Beyond the hiring claims, police are investigating Kim’s parliamentary record. They are examining whether Kim, who sat on the National Assembly’s Political Affairs Committee, directed legislative activity against Bithumb’s rival Dunamu as a quid pro quo for securing his son’s position.

This line of inquiry adds a political dimension to what initially appeared to be a corporate hiring dispute. Investigators are working to establish a direct link between Kim’s legislative conduct and benefits received from Bithumb’s leadership.

Police are also looking into whether a separate aide, referred to as Mr. A, was hired at Bithumb on Kim’s request. Mr. A reportedly began working at the exchange in September last year and has ties to Kim’s parliamentary office.

Authorities plan to summon Mr. A and others for questioning. Investigators want to determine what Mr. A knew about the job solicitation and the full circumstances surrounding his own hiring at the exchange.

The case remains under active investigation with no formal charges filed against either Kim or Lee at this stage.

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