A defendant shall be punished by imprisonment for not less than one year and six months.

An applicant for compensation shall be dismissed.

Punishment of the crime

Around July 3, 2009, the Defendant, as the representative director of C Co., Ltd. (hereinafter referred to as “C”), issued a written statement to the effect that the Defendant is responsible for and immediate resolution of any contingent liability, such as material costs and construction costs, if any, after the transfer of the financial statements and license, after the transfer of the financial statements of C Co., Ltd. (hereinafter referred to as “the electrical construction business as of July 3, 2009), and the written statement to the effect that the Defendant is responsible for and immediately resolved any contingent liability, if any, to the Defendant’s share of the electrical construction business through G (H).

However, at the time of fact, C had a majority of the liabilities with respect to the unpaid construction payment due to the subcontract for electrical construction as of December 24, 2005 with I Co., Ltd., including 19,373,869 won due to the settlement of accounts on June 27, 2008. Around that time, C had no intent or ability to repay C’s obligations including electrical construction business due to the shortage of funds, such as filing a complaint against the violation of the Labor Standards Act, due to the delayed payment of part of C’s obligation from April 2008 to December 2 of the same year.

Nevertheless, the defendant's liabilities related to the portion of the electrical construction business of C, which was transferred by division, are merely equivalent to 5,00,000 won, or in respect of future debts, as if the defendant would have been repaid, he deceiving the victim company as if he would have the defendant repay the debts incurred in the future, and had the victim company remit the total amount of KRW 1,01,50,000 from July 1, 2009 to April 4 of the same month to a private person in the course of the acquisition and merger on the part of the victim company, and received KRW 70,00,000 from J and G (H company) as transfer proceeds, and received the total of KRW 70,000,000 from September 1, 2009.