In full view of the circumstances stated in its reasoning, the lower court affirmed the first instance judgment convicting the Defendant of the instant facts charged on the ground that the Defendant used material nonpublic information for the purchase of shares and was willing to use material nonpublic information for a share transaction.

Examining the reasoning of the lower judgment in light of the relevant legal principles and evidence duly admitted, the lower court’s aforementioned determination is justifiable, and contrary to what is alleged in the grounds of appeal, there were no errors by exceeding the bounds of the principle of free evaluation of evidence in violation of logical and empirical rules, or by misapprehending the legal doctrine on the violation of the Financial Investment Services and Capital Markets Act

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

Justices Park Sang-ok

Justices Lee Ki-taik

Justices Park Ho-hwan.