[2026 Parliamentary Audit] NXT CEO Kim Haksoo Denies 'Lucentblock Technology Theft' Allegations: "We Did Not Refer to It"

Kim Haksoo, CEO of Nextrade (NXT), categorically denied allegations that the company stole Lucentblock's technology during the licensing process for a fractional investment over-the-counter exchange.

NextTrade CEO Kim Haksu answers lawmakers' questions during a comprehensive audit of the Financial Services Commission and other agencies at the National Assembly on October 22, 2026. Photo by Yoon Dongju.

At a comprehensive parliamentary audit of the Financial Services Commission and the Financial Supervisory Service held by the National Assembly's Political Affairs Committee on the 22nd, Assemblyman Min Byeongdeok of the Democratic Party of Korea asked whether Nexchange, led by Nextrade, had reviewed Lucentblock's technology and received a high evaluation during the preliminary approval process for the fractional investment OTC exchange. Kim responded, "We did not refer to it at all."

Assemblyman Min criticized the company, saying, "Nextrade said it would not participate in the business, but received an eight-page summary of the business background, a five-page, five-year financial model, and a six-page investment proposal from Lucentblock CEO Heo Seyoung. You had no expertise at all, yet you received the materials and didn't even refer to them?"

In response, Kim explained, "Our consortium includes Musicow, a major fractional investment company," adding, "Musicow's experience helped us obtain approval during the licensing process."

Assemblyman Min pointed out, "Of Nextrade's seven full-time executives, six came from the Financial Services Commission, the Financial Supervisory Service, or the Korea Exchange, while the only person from the private sector is the compliance officer. None of them has worked in the fractional investment market. Was the executive vice president recently recruited from the Financial Services Commission, where he served as a deputy director-general, hired not for his expertise but due to preferential treatment for former officials?" Kim replied, "As a newly established company, we needed people with diverse experience, so we hired him based on his expertise."

Kim did, however, express some regret about his communications with Heo. "I fully understand the frustration CEO Heo felt," he said. "If I upset him by speaking carelessly while discussing an investment proposal over tea, given our personal relationship, that was my fault." He added, "I also participated in an interview during the Fair Trade Commission's investigation."

This content was produced with the assistance of AI translation services.