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Defendant shall be punished by a fine of KRW 40 million.
If the defendant does not pay the above fine, KRW 100,000.
Reasons
Punishment of the crime
1. The status of the Defendant and the parties involved in the case is the head of E Co., Ltd. (FF Co., Ltd.; hereinafter “E”). G is the former representative director, H is the former representative director, H is the former managing director, and J is the former managing director, and the former managing director, and the J is the managing support team.
2. On August 2014, L Co., Ltd. (hereinafter “L”) proposed the acquisition of E to the K Co., Ltd. (hereinafter “K”) with a major shareholder of E (hereinafter “K”), and prepared a proposal for acceptance (MU) to transfer 32.4% of its affiliated companies held by K, M, N,O, P, etc. as of November 6, 2014 after the process of negotiations for sale of E, and as of November 6, 2014, K, etc. sold E stocks in bulk, and L acquired stocks in bulk.
3. No executive or employee of a person who intends to sell or acquire stocks of E using undisclosed information (including its affiliated companies) who becomes aware of any material nonpublic information regarding the initiation or discontinuance of an acquisition or disposition in bulk of stocks in connection with his/her duties shall use or allow another person to use the material nonpublic information regarding the initiation or discontinuance of an acquisition or disposition in bulk of stocks, etc. in connection with such stocks;
On November 21, 2014, the Defendant: (a) obtained information from the E office located in Seongbuk-gu Q, Sungnam-si, that K et al. will dispose of the E shares of its affiliated company, as set forth in paragraph (2); (b) obtained the Defendant’s trading director from his superior business entity, who received an order to take follow-up measures to dispose of the shares of its affiliated company; and (c) upon disclosure of the information, it is anticipated that the price of E would decline; (d) sold the shares held by the Defendant before the disclosure of the information; (e) notified the Defendant to G, H, and I, a former executive officer or employee of the E, who had a close relationship with the Defendant, so that he would avoid or avoid any loss incurred due to the price decline.
The defendant was dated November 26, 2014.