The defendant's appeal is dismissed.

1. Summary of grounds for appeal;

A. The lower court convicted the Defendant of the instant facts charged even though it did not constitute an election campaign prohibited under Article 22(2) subparag. 1 of the Saemaul Bank Act, since the act of the Defendant, which was enforced on January 30, 2016, provided money and valuables to representatives in relation to the election of the president of the Saemaul Bank, was conducted before the election day was announced publicly, and the candidate was registered. In so doing, the lower court erred by misapprehending the legal doctrine, thereby adversely affecting the conclusion of the judgment.

B. The punishment sentenced by the lower court against the Defendant (one million won in penalty) is too unreasonable.

2. Judgment on the grounds for appeal

A. In light of the legal reasoning’s argument, Article 22(2) of the Saemaeul Cooperatives Act provides that no person shall provide any member or his/her family with money and valuables or entertainment for the purpose of having him/herself or any specific person elected or not elected as an executive. Article 85(3) of the Saemaeul Cooperatives Act provides that the act of violation shall be punished. Although Article 8(7) of the Saemaeul Cooperatives Act does not provide for an election campaign restriction period during which the act of donation, such as money and valuables, is prohibited, matters concerning the election of executive officers shall be stated in the articles of incorporation of the Saemaul Cooperatives. However, Article 18(8) of the Saemaul Cooperatives Act provides that the matters necessary for the method of and procedure for the appointment of executive officers shall be stipulated in the articles of incorporation of the Saemaul Cooperatives. According to the records, the Regulations on the Election of Executive Officers of the Saemaul Cooperatives, which appears to have been delegated by the articles of incorporation concerning the election of executive officers, shall aim at the provision of necessary matters concerning the election of executive officers in Article 1 of the Saemaul Cooperatives Act from the expiration date of his/her term of office.