SEOUL, April 17 (Yonhap) -- Outgoing Financial Supervisory Service Gov. Kim Ki-sik, who offered to resign after an election committee claimed he violated a law when he was a lawmaker, said Tuesday that he "politically accepts" the verdict but refuted it as unconvincing.
Kim, who was appointed to the post earlier this month, expressed his intention to step down late Monday shortly after the National Election Commission (NEC) concluded that he could have broken a law in 2016, when he donated money to a lawmakers' association led by him.
Kim has faced other snowballing allegations, including overseas trips he took with money from institutions under the oversight of his parliamentary committee.
In a Facebook post, Kim apologized to the public for causing concerns over the allegations.
Kim said he submitted records of the donation to the NEC in 2016, but at the time, the election watchdog did not raise the issue.
The NEC's ruling has "room for a legal dispute, but I think that it is my duty to accept it," Kim said.
Kim donated 50 million won (US$46,737) to the association of Democratic Party lawmakers, named The Better Future, right before his term as a lawmaker expired. Critics have charged that the money was part of Kim's leftover political funds and he should have returned it to state coffers, although political watchers have said making various donations with leftover money has been common practice among lawmakers.
With allegations against Kim mounting, President Moon Jae-in pledged last week to fire him if any illegality was found in his past acts.
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