Step 1: Analyze Statement I.
For a system consisting of many particles, the total kinetic energy of the system is defined as the sum of the individual kinetic energies of all the particles.
Mathematically,
\[
K_{\text{total}} = \sum \frac{1}{2} m_i v_i^2.
\]
Hence, Statement I is true.
Step 2: Analyze Statement II.
The kinetic energy of a system of particles can be split into two parts:
\[
K_{\text{total}} = \frac{1}{2} M V_{\text{CM}}^2 + \sum \frac{1}{2} m_i v_i'^2,
\]
where \( M \) is the total mass, \( V_{\text{CM}} \) is the velocity of the center of mass with respect to the origin, and \( v_i' \) is the velocity of the \( i \)-th particle with respect to the center of mass.
This is a standard result in mechanics.
Hence, Statement II is also true.
Step 3: Final conclusion.
Both Statement I and Statement II are true.
Final Answer:
\[
\boxed{\text{Both Statement I and Statement II are true}}
\]