Criminal facts have to be proved to the extent that there is no reasonable doubt (Article 307(2) of the Criminal Procedure Act). However, the selection of evidence and probative value of evidence conducted on the premise of fact finding belong to the free judgment of the fact-finding court.

(Article 308 of the Criminal Procedure Act). For the reasons indicated in its reasoning, the lower court determined that the Defendant made a false statement concerning a material fact while preparing the 24th quarterly report of the instant company as indicated in the lower judgment, and rejected the allegation of grounds for appeal by mistake of facts or misapprehension of legal principles as to this part

The allegation in the grounds of appeal is merely an error in the judgment of the court below as to the choice of evidence and probative value, which belong to the free judgment of the court of fact-finding.

In addition, even if examining the reasoning of the lower judgment in light of the aforementioned legal doctrine and the evidence duly admitted, the lower court did not exhaust all necessary deliberations and did not err in its judgment by misapprehending the legal doctrine regarding the false description or indication of material facts in quarterly reports as prescribed by the Financial Investment Services and Capital Markets Act, and its intentional act and the grounds for rejecting liability, or by exceeding the bounds

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