All appeals by the Defendants are dismissed.

1. Summary of grounds for appeal;

A. Since there was no fact that the victims embezzled KRW 50 million, the Defendants did not impair the honor of the victims.

B. The victims of misapprehension of the legal doctrine expressed that they do not want to punish the Defendants to the investigation agency on June 23, 2013, and thus, the dismissal of prosecution against each of the charges of defamation should be pronounced on June 23, 2013.

C. The lower court’s sentence of unreasonable sentencing (Defendant A: fine of KRW 5,00,00, and fine of KRW 500,000) is too unreasonable.

2. Determination

A. Comprehensively taking account of the following facts acknowledged by the lower court and the evidence duly admitted and examined by the trial court, the Defendants, despite the fact that the victims received KRW 50 million under the name of the D Apartment Development Fund, may recognize the fact that the victims embezzled KRW 50 million as stated in each of the facts charged, thereby impairing the honor of the victims.

1) The victims consistently stated in the investigation agency and the court of the court below that “Is the victims received KRW 50 million under the name of the D Apartment Development Fund.” The Defendants stated that “Is the apartment residents of each of the instant case received KRW 50 million under the name of the D Apartment Development Fund from G Co., Ltd., and they had damaged their honor.” The Defendant distributed on June 13, 2013 “Is the H articles of the title “Is the title “Is the apartment site development fund of KRW 50 million” on the ground that the apartment residents received KRW 50 million from the owner under the name of the development fund, and on the ground that they received KRW 50 million from the owner, the articles of the title “Is, Is, Ns, and Ms each of the above victims’ testimony at the court of the court of the court below as seen below.”