Seoul High Court 2015Nu839

Whether the issuance of the securities issued by the non-party corporation constitutes the public offering of securities and Exchange Act.

The issue is that the issue is that the listed company's capital increase by the method of third party allocation is not accepted by the registration statement under Article 8 (1) of the Securities and Exchange Act, and that the number of persons who are solicited to make an offer falls short of 50, and thus does not fall under the method of solicitation under Article 39 (1) of the Inheritance Tax and Gift Tax Act. Therefore, the imposition of gift tax is justifiable.

The appeal is dismissed.

Expenses for appeal shall be borne by the defendant

All of the records of this case and the judgment of the court below and the grounds of appeal were examined, but the argument on the grounds of appeal by the appellant is clear that it falls under Article 4 of the Act on Special Cases Concerning the Inspection of Final Appeals and therefore, the appeal is dismissed pursuant to Article 5 of the above Act. It is so decided as per Disposition by

Donation of profits from capital increase under Article 39 of the Inheritance and Gift Tax Act