The judgment of the court below is reversed.

Defendant shall be punished by a fine of KRW 7,000,000.

The above fine shall not be paid by the defendant.

1. Summary of grounds for appeal;

A. Defendant 1 argues that the judgment of the court below erred by misunderstanding the facts as follows, which affected the conclusion of the judgment. (A) The defendant posted the data room on the Internet homepage and the freely accepted bulletin board through AD (hereinafter “instant bulletin board”) among the “plan for normalization of the D Middle School Foundation Foundation’s Board of Directors” (hereinafter “instant notice”).

1. The portion of “the property donated by the victim (hereinafter referred to as “victims”)” in subsection (b) means borrowing only the name for establishment authorization, which was the practice at that time; and

1. Paragraph (c) of the same Article provides that “The farmland donated by the first president has an important role in meeting the requirements for the establishment of a school foundation, but did not contribute to the formation process of the current Dmiddle School Property.” (hereinafter “instant school foundation”) ① This portion cannot be viewed as a statement of specific facts as the Defendant’s subjective value judgment that the victim would not contribute to the establishment of the instant school foundation, which is the first 100,000 square meters of farmland contributed to the instant school foundation, and the victim would not be deemed to be false in light of the fact that the land price was compensated for 100,000 square meters of the farmland contributed to the instant school foundation and the factory was purchased based on the purchase of the factory, etc., and thereafter the ownership transfer registration was completed in the name of the victim. Even if the above contents were false, the Defendant’s father and the head of F, the first principal of D middle school, even if the above contents were to be false, should not be deemed to be false.

B. Among the notice of this case

2. In light of the fact that the victim under paragraph (1) has not contributed to the formation of basic property for education of the school juristic person in this case, basic property for education is gradually formed through tuition fees for students and support funds from AW residents, etc., and the victim shall do so.