The appeal is dismissed.

The grounds of appeal are examined (to the extent of supplement in case of supplement in case of supplemental appellate briefs not timely filed).

The lower court convicted the Defendant of the facts charged of the instant case (excluding the portion not guilty of the grounds).

The judgment below

Examining the reasoning in light of the relevant legal principles and evidence duly admitted, the lower court did not err by failing to exhaust all necessary deliberations in its judgment, exceeding the bounds of the principle of free evaluation of evidence in violation of logical and empirical rules, by exceeding the bounds of the principle of free evaluation of evidence, by misapprehending the legal doctrine on the amount of avoidance of loss and the application of penal provisions, by failing to disclose important information, and the identity of facts charged, or by misapprehending the legal doctrine on the non-permanent and unfavorable principle and the violation

The defendant asserts that when calculating the amount of loss avoidance, the value should be calculated on the basis of the lowest price formed for the first time after the nonpublic information was disclosed, not on the basis of the closing price, but on the basis of the time when the share price is stable after the information was sufficiently disclosed to the market

However, the Defendant withdrawn the grounds for appeal on the calculation method of the amount of loss avoidance on the second trial date of the lower court.

The grounds of appeal in this part are not legitimate grounds of appeal since the defendant's grounds of appeal or the court below's decision did not have been subject to a judgment ex officio.

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