Occupational Breach of Trust: Punishment, Elements, and Embezzlement
What is occupational breach of trust? Occupational breach of trust is a crime defined in Article 356 of the Korean Criminal Act. It refers to conduct in which a person who handles another's affairs violates their duty, causing harm to the other party while obtaining a benefit for themselves or a third party. This crime typically arises in trust-based relationships, particularly when a manager within a company or organization abuses their position for personal gain. Punishment for occupational breach of trust: Under Article 356 of the Korean Criminal Act, it is punishable by imprisonment of up to 10 years or a criminal fine of up to KRW 30 million. If the resulting loss is substantial, the Act on the Aggravated Punishment of Specific Economic Crimes provides for aggravated punishment of fixed-term imprisonment of at least 3 years where the amount is between KRW 500 million and KRW 5 billion, and life imprisonment or imprisonment of at least 5 years where the amount is KRW 5 billion or more. The elements of occupational breach of trust..
