All judgment of the court below shall be reversed.

Defendant M. The victim M.

1. Summary of grounds for appeal;

A. Defendant 1) misunderstanding of the facts and misapprehension of the legal doctrine [the second part of the charge No. 2 of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (in the case of violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes against the victim G Co., Ltd. of the original judgment, the part of the charge is premised on the value of the victim G Co., Ltd. (hereinafter referred to as “G”)’s shares issued by AJ Co., Ltd. (hereinafter referred to as “AI”) that it acquired from AJ Co., Ltd. (hereinafter referred to as “AJ”) (hereinafter referred to as “AI”), 70,000 shares (hereinafter referred to as “the shares of this case”), which the external auditor of AJ prepared by AJ, is KRW 6,605,00 on the account books based on the audit report of the year 201.

(1) However, the accounting corporation’s book-based loss caused by damage based on AI’s cumulative deficits, capital potential rate, etc.

The decision was made, however, that the amount of damage loss is recognized as KRW 2,393,395,000, there is a violation of the Korea-adopted International Accounting Standards (K-IFRS, hereinafter “Korea-adopted International Accounting Standards”) which must be applied to listed companies. ② The calculation of the value of the shares in this case based on the supplementary valuation methods of unlisted stocks under the Inheritance Tax and Gift Tax Act is just based on the business performance between assets and the past three years, and it is unlawful to completely exclude any other factors affecting the business value, ③ the AI company’s situation, the special situation of the shares in this case, the victim G, and there was clear and inevitable demand for the shares in this case, and the acquisition amount directly or indirectly borne by AJ 2 years prior to the trading date was caused by about 3750,000,000 won, and there was no significant change in the financial situation between the two years thereafter, and thus, there was a high value of patent acquisition, etc.

Comprehensively taking account of the facts that the transaction price of the shares in this case was exceeded the fair value.

(4) the KOSDAQ market.