All judgment of the court below shall be reversed.

Defendant shall be punished by imprisonment with prison labor of one year and six months, and fine of 3,000,000 won.

Defendant.

1. The summary of the grounds for appeal is too unreasonable that the respective punishment of the original judgment (the 10 months of imprisonment, the 2nd judgment: the 5 million won fine, and the 3th judgment: the 1 year imprisonment) is too unreasonable.

2. We examine ex officio prior to the judgment on the grounds for appeal by the defendant.

As each case of the judgment of the court below appealed by the defendant, the crimes of each judgment of the court below against the defendant became concurrent crimes in the former part of Article 37 of the Criminal Code.

In such cases, in accordance with Article 38 of the Criminal Code, one punishment should be sentenced simultaneously, so the judgment of the court below is no longer maintained.

The judgment of the court below 2 is based on Article 32(6) of the Act on Corporate Governance of Financial Companies (hereinafter “Act”), which separately examines the facts charged for violation of the Act on Corporate Governance of Financial Companies and the facts charged for the 3rd judgment, and then declares the punishment.

In light of the following circumstances, the purpose of Article 32(6) of the Act, the systematic and reasonable interpretation of the relevant provisions, and the provisions of the separate review and rulings under Article 32(6) of the Act, not to apply to the violation of all finance-related Acts and subordinate statutes, but to the case where the defendant is the largest investor among the largest shareholders of a financial company, i.e., the subject of examination of eligibility under Article 32(1) of the Act.

① Article 31 of the Act provides for the requirements for approval of change to a person who intends to become a major shareholder (a major shareholder of a financial company is divided into the largest shareholder and a major shareholder according to Article 2 subparagraph 6 of the Act) by acquiring or taking over shares issued by the financial company.

In this regard, Article 32 of the Act provides for separate requirements for maintaining eligibility for one of the largest shareholders of a financial company which acquired the status of a major shareholder through the approval of change in accordance with Article 31.

(2) The Act shall be tried and sentenced separately in Article 31.