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[1] Where false buying orders, high price buying orders, collusive buying and selling acts and other similar acts were repeated to manipulate stock prices, the number of crimes committed under Article 188-4 of the former Securities and Exchange Act (=single merged crime)
[2] Where defendant withdrew from a conspiracy relationship after he/she committed part of the crime which was part of the single merged crime, while other conspirators committed the remaining crimes, whether the defendant is criminally liable for the crimes in which he/she did not participate (affirmative)
[3] The Court held that, where the defendant conspired to place stock price manipulation orders against the stocks of a certain stock company with other conspirators and actually implemented part of the acts of manipulating stock prices, and subsequently withdrew from the conspiracy relationship while other conspirators continued to manipulate other stock prices, the defendant is criminally liable as a co-principal for the remaining stock price manipulation acts which other conspirators committed, unless the defendant stopped other conspirators from committing the crime
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