The judgment of the court below is reversed.

Defendant shall be punished by a fine of KRW 10 million.

The above fine shall not be paid by the defendant.

1. The main point of the grounds for appeal is that the lower court’s punishment (25 million won) is too unreasonable.

2. The Defendant, without legitimate registration, conducted foreign exchange business for about one year and five months, such as converting foreign currency into the Republic of Korea, for the Republic of Korea, for which one year and five months have passed, and the amount of the refund was large. Considering the fact that the above crime is likely to impair transparency of foreign exchange transactions and be abused as a means of illegal or unlawful financial transactions, the nature of the crime is not weak.

In addition, the defendant has a criminal record of the same fine.

On the other hand, however, the defendant shows an attitude to see and reflect his mistake (71 tax) in the aged.

In addition, in the Philippines, after completing the registration of money exchange business and undergoing the business in this case, there are several dependents dependent on the defendant, who completed the registration of money exchange business in Korea around November 2016.

When considering the circumstances unfavorable or favorable to the defendant as above, and the various sentencing conditions shown in the defendant's character, conduct, environment and other arguments in this case, the sentence of the court below is too unreasonable.

3. In conclusion, the judgment of the court below is reversed in accordance with Article 364(6) of the Criminal Procedure Act on the grounds that the defendant's appeal is with merit, and the judgment below is reversed and it is again decided as follows.

[Re-written judgment] The summary of facts constituting an offense and evidence recognized by the court is identical to the description of each corresponding column of the judgment below, and thus, they are quoted in accordance with Article 369 of the Criminal Procedure Act.

Application of Statutes

1. Article 27(1)6 and Article 8(3) of the former Foreign Exchange Transactions Act (amended by Act No. 14525, Jan. 17, 2017) applicable to the crime and the former Foreign Exchange Transactions Act (amended by Act No. 14525, Jan. 17, 2017)

1. Article 70(1) and Article 69(2) of the Criminal Act to attract a workhouse;

1. Article 334 (1) of the Criminal Procedure Act concerning the order of provisional payment;