All judgment of the court below shall be reversed.

Defendant shall be punished by a fine of one million won.

The above fine shall not be paid by the defendant.

1. The decision of the court below on the gist of the grounds of appeal (the first instance judgment: the fine of 1.5 million won, and the second instance judgment: the fine of 700,000 won) is too unreasonable.

2. Ex officio determination

A. The appeal case against the judgment of the court below was combined when the judgment of the court below became final and conclusive. Each of the crimes in the judgment of the court below against the defendant is concurrent crimes under the former part of Article 37 of the Criminal Act, and the sentence should be imposed within the scope of punishment aggravated by concurrent crimes pursuant to Article 38(1) of the Criminal Act. Therefore, all of the judgment of the court below should be reversed.

B. According to the records of the second judgment, the Defendant was sentenced to two years and four months of imprisonment and fine of 1,00,000,000 won for a violation of the Financial Investment Services and Capital Markets Act in Seoul Southern District Court 2017Gohap501 on August 9, 2018, and the judgment becomes final and conclusive on April 11, 2019 (Seoul High Court 2018No2302, Supreme Court 2019Do1215). Since the crime in the judgment of the court below is in a concurrent relationship with the crime of violation of the Financial Investment Services and Capital Markets Act and the latter part of Article 37 of the Criminal Act, since the crime in the judgment of the court below becomes final and conclusive, the sentence shall be determined after considering equity and the mitigation or exemption of the sentence pursuant to Article 39(1) of the Criminal Act, and in this respect, the judgment of the court below No. 2 was no longer maintained.

3. Accordingly, the judgment of the court below is reversed in accordance with Article 364(2) of the Criminal Procedure Act without examining the defendant's assertion of unfair sentencing, on the ground that there is an ex officio reversal ground as above. It is so decided as follows.

Criminal facts

The summary of the facts of the crime and the evidence admitted by the court, and the summary of the facts of the crime in the judgment of the court of second instance, shall be sentenced to two years and four months of imprisonment and a fine of 1,00,000,000 won in all of the facts of the crime in the judgment of the court of second instance.