Defendant shall be punished by a fine of KRW 3,000,000.

If the defendant does not pay the above fine, 50,000 won.

Punishment of the crime

The Defendant opened a “portable small-amount settlement loan” website on the Internet portal website or Blok, posted a mobile phone small-amount settlement advertisement. After reporting and communicating, the Defendant: (a) had the lending customer purchase the game items at the online game site using the mobile phone small-amount settlement function; (b) purchased the said game items at discount of 75-80% of the purchase price; and (c) borrowed the amount equivalent to the purchase price; and (d) sold the purchased game money at 85-90% of the initial purchase price to obtain the difference.

1. Any person who intends to engage in credit business in violation of the Registration of Credit Business and Protection of Financial Users Act shall register the relevant place of business with the competent authority having jurisdiction over the relevant place of business;

Nevertheless, on November 7, 2011, the Defendant received a request for a loan from the C, which reported and contacted the above loan advertisement, and had the Internet game site access to the “former theory”, which is an Internet game site, and had the Defendant purchase the game items and transfer them in the form of gift to the Defendant’s game ID, and then remitted KRW 150,500,000 after deducting KRW 49,50,000 from the fee.

From that time until May 3, 2012, the Defendant loaned a total of KRW 2,575,700 over 23 occasions, as indicated in the attached list of crimes, and operated a credit business without registering with the competent authority.

2. No person who violates the Act on Promotion of Information and Communications Network Utilization and Protection, etc. shall compel a user of telecommunications billing services to purchase or use goods under the Act on Promotion, etc. of Information and Communications Network Utilization and Network Utilization and provide financing through the purchase of goods at a discount.

Nevertheless, the Defendant may request the above loans at the date, time, and place under the above Paragraph (1).