All appeals are dismissed.

The grounds of appeal are examined.

Where promoters, etc. of a stock company can be deemed to have established by registering the incorporation in accordance with the requirements and procedures for the establishment of a company in accordance with the provisions of the Commercial Act and other Acts and subordinate statutes, the registration of incorporation of the company and the details thereof shall not be deemed to constitute “the fact of insolvency” as referred to in the crime of

At the time of incorporation of the Company by promoters, etc., there was an intention or purpose of crime using the Company without actually operating the Company.

The mere fact that a company does not have the substance of its business, such as human or physical organization, cannot be deemed to have recorded false facts in the corporate register.

(See Supreme Court Decision 2019Do9293 Decided February 27, 2020). Based on its stated reasoning, the lower court affirmed the first instance judgment that acquitted Defendants A and C on the ground that there was no proof of crime regarding the false entry into the public electronic records, etc., and the exercise of the public electronic records, etc., among the facts charged against Defendants A and C, and the facts charged against Defendants B.

The judgment below

Examining the reasoning in light of the aforementioned legal principles and records, the lower court did not err in its judgment by misapprehending the legal doctrine on the crime of false entry in public electromagnetic records, etc. and the crime of uttering of false entry in public electromagnetic records, etc.,

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