2. Determination

A. In light of the legislative purpose under Article 1 of the Foreign Exchange Transactions Act and the subject of the above Act including “foreign exchange in the Republic of Korea, foreign exchange transactions in the Republic of Korea, other acts related thereto, transaction, payment, receipt, and other acts related thereto”, the lower court determined that the Defendant’s place of receiving foreign exchange can be deemed as constituting a non-registered foreign exchange business under the above Act where he/she conducts payment, collection, and receipt of foreign exchange in connection with trade between the Republic of Korea and a foreign country without registration as in the instant case, even if the place of receiving foreign exchange is a domestic country.

B. 1) The Defendant himself recognizes the fact that: (a) the domestic merchant, who is a resident, was transferred the price of the goods from the Japanese merchant to a telegraphic exchange from Japan; (b) was paid in cash directly by the Japanese merchant; and (c) the remainder of the fee is paid to the domestic merchant in exchange for it; and (b) the Defendant was involved in the performance of the obligation to pay by bringing into the Republic of Korea the goods transaction between the Korean merchant, a resident, and the Japanese merchant, to a foreign exchange in Japan; and (c) this constitutes a foreign exchange transaction, regardless of the method of receipt, regardless of the method of receipt.

3. On October 26, 2006, the defendant's act constitutes a defendant's act on the ground of Supreme Court Decision 2004Do7428 Decided October 26, 2006.