The prosecutor's appeal is dismissed.

1. The summary of the grounds for appeal (the factual errors and misapprehension of legal principles) is sufficient to recognize that the Defendant engaged in the investment brokerage business for the purpose of gaining profits, and the lower court erred by misapprehending the legal principles on the investment brokerage business, thereby acquitted the Defendant. In so doing, the lower court erred by misapprehending the legal principles on the fact that it is reasonable to recognize that the Defendant engaged in the investment brokerage business, in view of the following: (a) the Defendant opened and operated a website of “F” with his own expense without any benefit; and (b) the witness I stated that the provision of presses itself is the principal hospitalization of the investment broker; and (c) the Defendant paid 50,000 won as

2. Determination

A. The following facts are acknowledged according to the evidence duly adopted and examined by the lower court.

1) The Defendant is a stock company D (hereinafter “D”) that is engaged in management consulting business, advertising agency business, real estate development business, financial institution loan recruitment business, etc.

(2) From April 201 to September 201 of the same year, the Defendant, as a person operating a financial investment business, did not have obtained a financial investment business authorization. 2) The Defendant opened the Internet homepage of “F” with D staff K as a general manager, and, from around April 201, from around around September 201, the Defendant deposited the deposit money in the Internet Caf, etc., and traded foreign currencies, such as US US US US US dollars, Japanese paintings, and erodation, which are means of foreign payment, within the scope of 400 times to around 50 times the deposit money, and made a transaction by combining foreign currencies, such as foreign currency, foreign currency, and erodation, which is the means of foreign payment, with a pair of the exchange profits, and posted a notice on the contents of “FX Maring” to recruit

3. The Defendant received KRW 500,000 from applicants, such as G, etc. who reported and contacted the above notice, and supported KRW 5,000,000,000 as the minimum deposit amount for the FX MV transaction, and the applicants fall below the loss ratio set up in advance for the Company’s funds.