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Defendant shall be punished by imprisonment with prison labor for a fine of KRW 7,00,000.
If the defendant does not pay the above fine, 100.
Reasons
Punishment of the crime
The defendant is the representative director of the Bank of Korea.
A person who holds stocks, etc. of a stock-listed corporation (referring to cases where the total number of stocks, etc. held by the person himself/herself and his/her specially related persons is at least 5/100 of the total number of such stocks, etc.) shall report to the Financial Services Commission and the Exchange on his/her holding status, the purpose of holding, the major terms of contract for holding stocks, etc., and other matters prescribed by Presidential Decree within five days from the date on which such report is made, and where the total number of stocks, etc. held is changed by at least 1/100 of the total number of such stocks, etc., he/she shall report the details of such change to the Financial Services Commission and the Exchange in a manner prescribed by Presidential Decree, and
In addition, any executive officer or major shareholder of a stock-listed corporation shall report the ownership status of specific securities, etc. owned on his/her own account regardless of in whose name he/she becomes an executive officer or major shareholder, and, if there is a change in the ownership status of such specific securities, etc., within five days from the date on which he/she becomes an executive officer or major shareholder, he/she shall report the change to the Securities and Futures Commission
Nevertheless, the Defendant violated the obligation to report the holding of stocks and the obligation to report stocks owned as follows.
(1) On December 5, 2013, the Defendant violated the obligation to report in bulk by providing D companies run by C with collateral for KRW 1,250,000 of E shares (13.84%) in relation to the obligation of KRW 3 billion borrowed from C, which was previously held by C, and did not perform the obligation until December 12, 2013, when the obligation to report in bulk arose.