All appeals are dismissed.

The grounds of appeal are examined.

For the reasons indicated in its holding, the lower court reversed the first instance judgment convicting the Defendants, and acquitted the Defendants on the grounds that the part of the charges against the Defendants that “the Defendants acquired unjust enrichment equivalent to KRW 374,719,476” constituted a case where there is no proof of crime.

The judgment below

Examining the reasoning in light of the relevant legal principles and records, the lower court did not err in its judgment by exceeding the bounds of the principle of free evaluation of evidence against logical and empirical rules, or by misapprehending the legal doctrine on “interest gained from a violation of Article 443(1) of the Financial Investment Services and Capital Markets Act”

Therefore, all appeals are dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.