Up to Life Imprisonment for "300 Billion Won Market Manipulation"... Sentences Raised for the First Time in 14 Years

Sentencing Increased for Gains Over 30 Billion Won
Life Imprisonment Now Possible
Standard Range: 7 to 12 Years, Aggravated: 9 to 19 Years
Leniency for Voluntary Reporting and Cooperation Reflected
"Surprise Consignment Deposit" No Longer a Mitigating Factor
Applies to Crimes Indicted After July 1

(Photo by Korea Exchange)

The sentencing guidelines have been toughened to allow for life imprisonment in extremely serious cases, such as securities crimes involving market manipulation that yield illicit gains of over 30 billion won.

According to the legal community on April 1, the Sentencing Commission of the Supreme Court recently held its 144th plenary session and finalized new sentencing guidelines for crimes including money laundering, securities and financial crimes, and gambling and gaming offenses.

The new guidelines will apply to crimes indicted on or after July 1. The Sentencing Commission has raised the sentencing standards for securities and financial crimes for the first time in 14 years since their implementation in 2012. In particular, the sentencing range for large-scale securities crimes resulting in illicit gains of over 30 billion won has been increased from the previous 7 to 11 years (standard) and 9 to 15 years (aggravated) to 7 to 12 years and 9 to 19 years, respectively.

Furthermore, if there are two or more aggravating factors than mitigating factors among the special sentencing elements, a "special adjustment" provision allows for the upper limit of the recommended sentencing range to be raised, making life imprisonment possible. Among special mitigating factors, the "leniency program" (a system for reducing punishment for judicial cooperators who voluntarily report) has been reflected as a mitigating measure.

In addition, concealing or disguising criminal proceeds is now subject to a recommended sentence of 6 months to 1 year and 6 months in prison as the basic range, and in aggravated cases, imprisonment from 10 months to 3 years. If the value of assets hidden overseas exceeds 5 billion won but is less than 50 billion won, the basic sentence is 3 to 7 years in prison, and if it is 50 billion won or more, the sentence is 6 to 10 years in prison.

Among the factors considered for sentencing mitigation in all crimes, "consignment deposit" has been excluded. This system, where money is deposited with the court for the victim to receive later, had been abused by defendants seeking lighter sentences through "surprise deposits" without the victim's consent, so it was removed to prevent such side effects.

For gambling and gaming crimes targeting minors or where a significant number of minors are involved, special aggravating factors will now be applied.

This content was produced with the assistance of AI translation services.