All appeals are dismissed.

In the disposition of the lower court, “not guilty” shall be deemed to be acquitted, and “not guilty” shall be deemed to be acquitted.

The grounds of appeal are examined.

Examining the history and content of the provisions related to the Foreign Exchange Transactions Act in light of the principle of interpreting penal provisions and the legal principles on the blanket crime, barring special circumstances, such as where a unreported capital transaction subject to punishment under Articles 29(1)3 and 18(1) main sentence of the Foreign Exchange Transactions Act constitutes capital transaction of the so-called “division transaction” in which part of the amount is divided and traded, it refers to a case where the amount of capital transaction individually executed is one billion won or more.

(See Supreme Court Decision 2018Do16474 Decided January 31, 2019, and Supreme Court Decision 2018Do14754 Decided March 14, 2019). The lower court determined that the Defendants were acquitted on the grounds that the statute of limitations has expired for each violation of the Foreign Exchange Transactions Act as stated in the holding of the lower judgment, on the grounds that there is insufficient reason to acknowledge that the Defendants committed various acts of distributing deposits or making deposits in installments so as not to be subject to criminal punishment under the Foreign Exchange Transactions Act. In so doing, the lower court determined that the Defendants were acquitted on the grounds that the statute of limitations expired for each violation of the Foreign Exchange Transactions Act as stated in subparagraphs 1 through 721 of the table of crime committed in the holding of the lower judgment.

The judgment below

Examining the reasoning in light of the aforementioned legal doctrine and the record, the lower court did not err by exceeding the bounds of the principle of free evaluation of evidence against logical and empirical rules, or by misapprehending the legal doctrine on capital transactions and blanket crimes under the Foreign Exchange Transactions

Therefore, all appeals shall be dismissed. Since the judgment of the court below is clearly erroneous, it shall be revised in accordance with Article 25 of the Regulation on Criminal Procedure. It is so decided as per Disposition by the assent of all participating Justices on the bench.