A defendant shall be punished by imprisonment for two years.

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

Punishment of the crime

The Defendant, as the representative director of a limited company B (hereinafter referred to as “B”) which is an artificial aggregate, light, and natural aggregate manufacturing and wholesale retail company, had experienced managerial difficulties in increasing B’s liabilities, had the intent to attract the victim C Co., Ltd. engaged in the same type of business (hereinafter referred to as “victim Co., Ltd.”) to purchase B by deceiving the victim company by informing the victim company of the amount of less than the actual amount of liabilities reduced than the amount of liabilities the victim company would have to purchase B.

On November 28, 2016, the Defendant is about KRW 7.8 billion to E and E, a major shareholder of the victim company, at the B office located in the Dorasan-si D on November 28, 2016.

A written agreement stating to the effect that "the acquisition of liabilities of KRW 7.8 billion and the purchase price of stocks and management rights shall vary to KRW 3.0 billion", and that "the amount of liabilities, including financial right obligations, payment bills, other accounts payable, loan obligations, etc. of KRW 7.8 billion, and KRW 85,000,000,000, out of the total equity of KRW 85.00,000,000, out of the total equity of KRW 85,000,000, and details other than the above debt shall be responsible and resolved by the defendant" was prepared, and then sent detailed debt details from E and F.

On November 29, 2016, through G, a director of the business management division of B, around November 29, 2016, through G, “the details of debt as of November 2016,” B sent to the victim company by e-mail a document stating that the details of debt as of November 2016 were KRW 1.4 billion in electronic bills, KRW 1.8 billion in paper notes, KRW 2.97 billion in loan amount, KRW 2.5 billion in borrowed bills, KRW 2.5 billion in borrowed bills, and KRW 8.8 billion in total.

The defendant, on the same day, refers to the purport that B's liabilities to E are KRW 8.8 billion at the Seoul office of the victim company in Songpa-gu Seoul, Seoul, and entered into a contract for stock purchase and transfer of management rights to transfer E and B's shares and management rights to the victim company.