A defendant shall be punished by imprisonment for not more than ten months.

However, the execution of the above punishment shall be suspended for a period of two years from the date this judgment becomes final and conclusive.

Punishment of the crime

Any person who intends to conduct foreign exchange business shall prepare sufficient capital, facilities and professional human resources for conducting foreign exchange business and register in advance with the Minister of Finance and Economy, as prescribed by Presidential Decree.

Nevertheless, the Defendant, without any registration, operated the “C” located in Osan-si on October 2013, without receiving fees from those who wish to remit money between Korea and China, and had the intent to engage in foreign exchange affairs concerning payment and receipt between Korea and China as a prompt method.

Accordingly, around October 31, 2013, the Defendant received a request from a person who wants to remit money to Korea from China, and transferred KRW 5,000,000 through the deposit account (F) in the name of the Defendant in the name of the said person to D, who was designated by the said person, from March 20, 2018, and received KRW 39,183,587,951 in total from March 20, 2018 to a resident in China who was requested to transfer money to Korea by the resident in China over 7,607, such as the daily list of crimes (illegal receipt) in the name of the Defendant, from March 20, 2018. From November 5, 2013, the Defendant received KRW 3,694,00 from a person who wants to transfer money from Korea to China, and paid KRW 5,000 to a resident in the name of the said person who was designated by the said person from March 20, 2018.

Accordingly, the defendant did not register with the Minister of Strategy and Finance, and did foreign exchange business on payment and receipt between Korea and China.

Summary of Evidence

1. Statement by the defendant in court;

1. The application of CD-related Acts and subordinate statutes in cases where the details of gold release transactions in 14 accounts are recorded;

1. Article 27-2 of the Foreign Exchange Transactions Act and Articles 27-2 (1) 1 and 8 (1) of the same Act concerning facts constituting an offense;