2382461 - Error "Core service <service> failed. J2EE Engine cannot be started" due to ClassNotFoundException

Java stack is unable to start due to a similar error:

service com.sap.security.core.ume.service ================= ERROR =================
Core service com.sap.security.core.ume.service failed. J2EE Engine cannot be started.
java.lang.NoClassDefFoundError: com/sap/mw/jco/JCO$Exception
at java.lang.Class.forName0(Native Method)
at java.lang.Class.forName(Class.java:225)
at com.sap.security.core.persistence.datasource.imp.r3persistence.R3JCoProxy.getInstance(R3JCoProxy.java:83)
at com.sap.security.core.persistence.datasource.imp.R3PersistenceBase.doInitRfc(R3PersistenceBase.java:729)
at com.sap.security.core.persistence.datasource.imp.R3Persistence.localInitialization(R3Persistence.java:285)
at com.sap.security.core.persistence.datasource.imp.R3PersistenceBase.init(R3PersistenceBase.java:468)
at com.sap.security.core.persistence.imp.PrincipalDatabagFactoryInstance.<init>(PrincipalDatabagFactoryInstance.java:447)
at com.sap.security.core.persistence.imp.PrincipalDatabagFactory.newInstance(PrincipalDatabagFactory.java:164)
at com.sap.security.core.persistence.imp.PrincipalDatabagFactory.getInstance(PrincipalDatabagFactory.java:117)
at com.sap.security.core.persistence.imp.PrincipalDatabagFactory.getInstance(PrincipalDatabagFactory.java:63)
at com.sap.security.core.InternalUMFactory.initializeUME(InternalUMFactory.java:221)
at com.sap.security.core.server.ume.service.UMEServiceFrame.start(UMEServiceFrame.java:287)
at com.sap.engine.frame.ApplicationFrameAdaptor.start(ApplicationFrameAdaptor.java:31)
at com.sap.engine.core.service630.container.ServiceRunner.startApplicationServiceFrame(ServiceRunner.java:214)
at com.sap.engine.core.service630.container.ServiceRunner.run(ServiceRunner.java:144)
at com.sap.engine.frame.core.thread.Task.run(Task.java:64)
at com.sap.engine.core.thread.impl5.SingleThread.execute(SingleThread.java:83)
at com.sap.engine.core.thread.impl5.SingleThread.run(SingleThread.java:156)
Caused by: java.lang.ClassNotFoundException: com.sap.mw.jco.JCO$Exception

Please note the symptom above is an example. In this example the UME service failed to start, but it may be any other service. The common point is the ClassNotFoundException error that we see as "Caused by:".

SAP NetWeaver Application Server Java, version independent.

Core service com.sap.security.core.ume.service failed. J2EE Engine cannot be started.
java.lang.NoClassDefFoundError: com/sap/mw/jco/JCO$Exception , KBA , BC-JAS-SF , Startup Framework , Problem