Defendants shall be punished by a fine of KRW 1,000,000.

Defendant

B and C fail to pay the above fine, respectively.

Punishment of the crime

Defendant

B and C are all the representative directors of the corporation A, and the defendant corporation A is located in Gangnam-gu Seoul Metropolitan Government F building and in three floors.

Any person who intends to run a guarantee insurance business shall obtain permission from the Financial Services Commission.

1. On February 2, 2014, Defendant C, without obtaining permission from the Financial Services Commission for guarantee insurance business, issued a guarantee insurance business under the name of the Co., Ltd. a guarantee certificate to guarantee the deposit amount of KRW 181,658,00,00, to the representative of G G Co., Ltd. to guarantee the deposit amount of KRW 181,658,00 in accordance with

2. Defendant B without obtaining permission from the Financial Services Commission for guaranteed insurance business;

A. Around June 26, 2014, a guarantee insurance business is run by issuing a guarantee insurance contract under the name of the Co., Ltd. to guarantee a deposit of KRW 30,000,000 at the seat of the said legal entity, and at the seat of the said legal entity, to the representativeJ of the I company.

B. On August 25, 2014, an insurance business is run by issuing a guarantee certificate to guarantee KRW 1,700,000 in the name of a stock company, to the representative L Co., Ltd. for the performance of the obligation to deposit farmland restoration deposit at the seat of the foregoing corporation;

C. Around December 2, 2014, at the seat of the foregoing legal entity, issue a guarantee insurance contract under the name of A to guarantee the performance of the claim of KRW 300,000,000, which M has against N, to M in the name of the said legal entity;

D. On December 4, 2014, at the location of the foregoing legal entity, Q and Guarantee Co., Ltd. P: A (representative director P) and debtor: The Guarantee Insurance Co., Ltd. issued a guarantee insurance contract under the name of A, stating that “A may demand performance after the expiration of the guarantee period if the debtor fails to perform his/her obligation to the Guarantee Agency” (the guarantee period may be claimed for performance after the expiration of the guarantee period).

3. The defendant A, a corporation, is the defendant's representative at each time and place specified in paragraphs 1 and 2, and C and B are the defendant's business.