A defendant shall be punished by imprisonment for not less than eight months.

However, the execution of the above punishment shall be suspended for two years from the date this judgment becomes final and conclusive.

Punishment of the crime

The defendant is the representative director of the (State)C located in Daegu Northern-gu B.

Around June 7, 2018, the Defendant entered into a credit transaction agreement, a foreign exchange transaction agreement, and a contract for transfer of security with the victim, with the effect that (i) the victim would pay the credit of (ii) the amount of credit extended to the Defendant, (iii) the amount of the credit operated by the Defendant, (iv) the amount of 171,000 U.S. dollars, and (iv) all obligations arising from foreign exchange transactions, etc. as collateral obligation to guarantee the payment of the credit, and (iii) the victim would establish the security for transfer to the victim for all bill of lading of (iv) the bill of lading.

Pursuant to the above credit transaction agreement, around December 27, 2018, the Defendant: (a) issued a letter of credit, which was imported from China the sum of USD 48,15.48,00 from China, including USD 55,30, BLAC IMO RE 2,350; and (b) completed import and customs procedures around January 8, 2019; and (c) had the duty to appropriately keep and manage the said letter of credit until the secured party pays for the letter of credit in order for the secured party to achieve the purpose of collateral; and (d) on January 9, 2019, the Defendant had the duty to appropriately keep and manage the said scrap in accordance with the said credit transaction agreement.

Nevertheless, the Defendant, in violation of his duties, arbitrarily disposed of the said scrap and consumed the price thereof on March 2019, thereby obtaining pecuniary benefits equivalent to USD 48,155.48 (Korean Won KRW 54,415,150) at the market price of the said scrap, and suffered substantial damage to the victim.

Summary of Evidence

1. Defendant's legal statement;

1. The police statement concerning G;

1. Investigation report (verification of the date of import of this case);

1. Application of Acts and subordinate statutes to an application for a credit transaction agreement, a foreign exchange transaction agreement, a transfer contract, an application for credit transaction (for an enterprise), a credit for which revocation is impossible, a sales contract, or an application for comparison of imported goods;

1. Relevant provisions concerning facts constituting an offense;