Defendant

A and B shall be punished by a fine of KRW 7,000,000, and by a fine of KRW 5,000,000, respectively.

The Defendants respectively.

Punishment of the crime

On September 2017, Defendants A and B sought a middle school-friendly residence office No. 4303, and advertised in the way of spreading name cards to the large commercial areas, such as Ansan-si, Ansan-si, Incheon, etc., and conspired to engage in loan business against those who reported and contact. Defendant C conspired with Defendant A and Defendant B to engage in loan business in the above way on December 2017.

1. Any person who violates the Act on the Registration of Loan Business, etc. and the Protection of Financial Users (unregistered loan business) shall file for registration with the Special Metropolitan City Mayor, Metropolitan City Mayor, Metropolitan Autonomous City Mayor, Do Governor, or Special Self-Governing Province Governor, having jurisdiction over the relevant place of business;

The Defendants did not register with the competent authority on February 7, 2018, and agreed to lend KRW 3 million to E in which the Defendants reported the names distributed for advertising purposes to E, and to whom the Defendants agreed to receive KRW 40,000 per annum 151.2% interest per annum from the principal and interest for 90 days every day. From February 14, 2018, the Defendants loaned a total of KRW 10,000,000,000 from February 14, 2018.

As a result, the Defendants conspired with the competent authorities to engage in the lending business without registering the lending business.

2. No one, other than a credit service provider that violates the Act on the Registration of Loan Business, etc. and the Protection of Financial Users (an advertisement for unregistered loan business), shall place an advertisement on loan business;

Although Defendants are not credit service providers who registered their lending business to the competent authorities, Defendant A is within the area of the Jungsan-gu, the Yeonsu-gu, Incheon-gu, Seoul-gu, and the area between September 16, 2018 to December 24, 2018, and Defendant B is within the area of the Incheon Metropolitan City shopping district between September 16, 2018 and January 24, 2018.