Defendant shall be punished by a fine of KRW 20,000,000.

When the defendant does not pay the above fine, 100,000 won.

Punishment of the crime

The Defendant, around early 2017, attempted to commit so-called “return” in the manner of paying the corresponding Hong Kong US dollars in cash without any actual transfer between the countries, by receiving certain fees from those who wish to remit Korean currency to a domestic account that they manage, including those who want to remit money between the Republic of Korea and China, and then deducting certain fees.

Any person who intends to engage in foreign exchange business shall be equipped with sufficient capital, facilities and human resources for foreign exchange business and registered with the Minister of Strategy and Finance in advance, as prescribed by the President.

1. On August 14, 2017, the Defendant, without registering with the Minister of Strategy and Finance, received the total of KRW 1,31,100,855 from customers who wish to transfer from the Chinese Mar. 14, 2017, and paid KRW 9,000,000 to the account (D) in the name of the Defendant from B who wants to transfer from Mar. 14, 2017 to Mar. 17, 2017, and paid the balance of Hong Kong equivalent to the balance after deducting the fee to B, as described in attached Table 1, in the same manner, to Jun. 15, 2018, the Defendant conducted foreign exchange business by means of cash payment from customers who want to transfer from Mar. 17, 2017 to Mar. 18, 2017 to Mar. 31, 100, 100,855 won after deducting the fee.

2. On March 18, 2017, the Defendant, without being registered with the Minister of Strategy and Finance, received USD 7,350,000 from E, who wants to transfer from Mar. 18, 2017 to Korea from Mar. 18, 2017, and then remitted KRW 7,350,000 from the above Cbank account in the name of the Defendant to the F Bank account designated by E, as well as remitting KRW 7,350,00, from Mar. 18, 2017 to Jun. 14, 2018.