[Alpha Biz= Kim Sangjin] Toss Securities has won a legal battle against KB Securities regarding a web trading system (WTS). The court recognized that Toss Securities had made significant investments and developed its system before the launch of KB Securities' WTS.
According to the financial investment industry on Sunday, the 60th Civil Division of the Seoul Central District Court dismissed KB Securities' injunction request to prevent unfair competition.
The court stated, "It has been acknowledged that Toss Securities developed its home screen independently before the release of KB Securities' WTS. The trading screen and my assets system were either elements already implemented by other companies or considered to be standard features. These can be recognized as achievements resulting from Toss Securities' considerable investments and efforts."
The court concluded, "These results do not fall under the scope of protection under the Unfair Competition Prevention Act."
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
