The judgment of the court below is reversed.

Defendants shall be punished by imprisonment for not less than two years and six months.

provided that this ruling has become final and conclusive.

1. Summary of grounds for appeal;

A. Defendant A1) misunderstanding of facts and misunderstanding of legal principles: (i) a violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Misappropriation); (ii) a report prepared by N Co., Ltd. (hereinafter “N”)’s business team and examination team on loans to P Co., Ltd. (hereinafter “N”) on P Co., Ltd. (hereinafter “O”) was recorded as true and omitted.

Even if the defendant A was involved in the preparation, the defendant A was not involved.

② As a representative director employed through N’s public invitation, Defendant A did not have a direct relationship with S Group (hereinafter “S Group”), nor did he/she exercise influence under the link with S Group in the course of loans toO.

③ Loans to theO were determined by the N’s examination team and the Credit Review Committee’s substantial review, and any non-performing loans arising from a failure in selling memberships of the AP golf course constructed by theO (hereinafter “instant golf course”) are only the influence of the U.S. financial crisis that occurred after the loan.

The loan to the Luxembourg limited liability company ① the loan to the V limited liability company (hereinafter referred to as the “V”) was commenced by the N, and the Defendants visited the territory of the Philippines and confirmed the authenticity of the casino business license.

In addition, the data such as the report of the future mutual savings bank of the company involved in the business feasibility were kept.

② The term “project participation in Hanwon Islands”, which is a condition for V’s withdrawal of loans, does not necessarily mean only the equity participation in Hanwon Islands (hereinafter referred to as “Gwon Islands”), which is a requirement for withdrawal of loans, and this is also an “term after withdrawal,” and it has been discharged after the execution of loans, and the Gangwonland participates in the project as a consulting service contract on August 21, 2008.