Ltd.)

United Kingdom ISO LINEIS ISO at its location

CBE

L. K.)

Representative DICTRDE DECRETE DIE CODE

A person shall be appointed.

Article 188-4 (4) of the Securities and Exchange Act provides that "any person shall not engage in any act falling under any of the following subparagraphs in connection with the sale and purchase or other transaction of securities." The act of spreading intentionally the false market price or false facts or other rumor or using deceptive schemes for the purpose of gaining unjust profits" (Article 188-4 (1) 1 provides that the prohibition of such fraudulent unfair trading by the Securities and Exchange Act is intended to protect individual investors' interests in securities transaction and to protect investors' confidence in the general securities exchange, thereby contributing to the development of the national economy (see, e.g., Supreme Court Decisions 2002Do1696, Jul. 22, 2002; 200Do4444, Jan. 19, 201); and "the act of inducing the trading partner or investor by deceptive means or deceptive means" refers to an act of inducing the trading partner or investor.

After compiling the adopted evidence, the court below acknowledged the facts as stated in its reasoning, and found that the defendant's employee OOO (hereinafter "OOO") expressed his intention to respond aggressively to the hostile merger and acquisition of stock companies (hereinafter "OO") since the interview before the interview, and made a strong reference to the possibility of hostile merger and acquisition against II in the first half of the interview. However, in light of the context of other remarks and remarks made by △△, the court below did not see that the defendant and the defendant already held shares of this case to the extent that they were not significantly different from those already reported to the media, and that the contents of the interview of this case were 0 days after the interview of this case, and the contents of the interview of this case were 10 days after the interview of this case, and the contents of the interview of this case were 0 days after the interview of this case.

The judgment of the court of first instance which acquitted the charged facts of this case was affirmed.

The above fact-finding and judgment of the court below are justified in light of the above legal principles and the rational free evaluation of the judge of the fact-finding court, and there is no error of law such as misconception of facts due to violation of the rules of evidence and misunderstanding of legal principles as to "defensive means" under Article 188-4 (4) 1 of the Securities and Exchange Act, as otherwise

Therefore, the appeal is dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Kim Young-young

Justices Kim Hwang-sik in charge