Defendant shall be punished by imprisonment for a term of one year and four months.

160,817,302 won shall be additionally collected from the defendant.

Punishment of the crime

The Defendant is a person who has been engaged in money exchange business in the name of Yongsan-gu Seoul Metropolitan Government and the first floor as “C Exchange Center” (registration April 20, 2015, closure of November 30, 2017).

1. Any person who intends to conduct foreign exchange business in violation of the Foreign Exchange Transactions Act following the sale of foreign exchange shall prepare capital, facilities and human resources sufficient to conduct foreign exchange business and register such business with the Minister of Strategy and Finance in advance as prescribed by Presidential Decree

On December 12, 2017, the Defendant, without being registered with the Minister of Strategy and Finance, requested the exchange of KRW 220,000,000 from D, another money exchange businessman, in US dollars at a non-displace in Seoul Metropolitan City (hereinafter referred to as “non-displace”) and sold foreign exchange of KRW 351,348,80,00 in total by such a method as stated in the attached Table 1, from July 24, 2017 to September 16, 2019.

Accordingly, the defendant did not register with the Minister of Strategy and Finance, but did foreign exchange business as above.

2. Violation of the Foreign Exchange Transactions Act following the purchase of foreign exchange;

(a) Any person who intends to engage in business of foreign exchange business with false registration shall prepare capital, facilities and human resources sufficient for conducting foreign exchange business and register such business with the Minister of Strategy and Finance in advance, as prescribed by Presidential Decree;

Around June 30, 2017, the Defendant received a request from the clients for the exchange of 5,000,000 United Nations at the above “C Exchange Station” to exchange the said money into 5,00,000,000 won from the bank, and purchased foreign exchange by means of exchanging the said money to the said clients, and from that time until August 9, 2017, the Defendant purchased the said money from the bank to the said clients.