The costs of appeal are assessed against the plaintiffs.

Article 14 (1) 4 of the former Restriction of Special Taxation Act (amended by Act No. 921 of Jan. 1, 2010) provides that "stocks or equity shares prescribed by Presidential Decree acquired by investing in a venture business shall be exempted from taxation of capital gains tax." Article 12 (1) of the former Enforcement Decree of the Restriction of Special Taxation Act (amended by Presidential Decree No. 22037 of Feb. 18, 2010) provides that "stocks or equity shares prescribed by Presidential Decree under Article 14 (1) 4 of the Act are stocks or equity shares acquired by investment in conformity with the provisions of subparagraphs 1 and 2 and five years have passed from the date of such investment in a venture business (referring to a venture business under Article 2 (1) of the Act on Special Measures for the Promotion of Venture Businesses) or a venture business converted into a venture business within three years from the date of its establishment."

After compiling evidence, the court below acknowledged the facts as stated in its decision, and determined that the shares acquired by the plaintiffs at the time of incorporation of BB do not constitute the subject of special taxation of capital gains tax under Article 14 (1) 4 of the former Enforcement Decree of the Restriction of Special Taxation Act, on the following grounds: in full view of the language, structure, legislative purport, and history of amendment of the relevant provisions, "investment in venture businesses within three years from the date of establishment of venture business" means "investment in venture businesses within three years from the date of establishment of the venture business, which is within three years from the date of establishment of the venture business, such as BB; and since shares acquired by the plaintiffs after incorporation of the venture business into a general company after incorporation of the venture business, are not shares acquired by the "investment in venture business within three years from the date of establishment of the venture business"

Examining the above provisions and relevant legal principles in light of the records, the above determination by the court below is correct, and contrary to what is alleged in the grounds of appeal, the court below did not err by misapprehending the legal principles on interpretation of Article 14(1)4 of the former Restriction of Special Taxation Act and Article 12(1)1 of the former Enforcement Decree of the Restriction

Therefore, all appeals are dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.