KB Securities claimed that Toss Securities' web trading system (WTS) is similar to its own system and filed for a preliminary injunction, but the court ruled in favor of Toss Securities.
According to the financial investment industry and the court on the 6th, the Seoul Central District Court’s 60th Civil Division (Chief Judge Lim Hae-ji) dismissed KB Securities' application for a preliminary injunction against Toss Securities for unfair competition on the 3rd of this month.
Previously, KB Securities had filed for a preliminary injunction, claiming that Toss Securities unlawfully used elements of its WTS, including news information, real-time chart information, summary information about my asset, and customer guidance information, from the WTS screen launched in July last year.
The court held two hearings in August and October of last year. The court stated in its ruling that "the configuration of the home screen of KB Securities is substantiated as being present in the home screen of Toss Securities," but added that "Toss Securities specifically conceptualized the home screen configuration while developing the WTS prior to the launch by KB Securities, and even the undeveloped parts could easily be conceived and combined with the home screens that were in development."
It also concluded that "it is difficult to assert that Toss Securities unlawfully used the home screen configuration in a manner that is contrary to fair trade practices or competitive order."
Additionally, the court explained that elements such as the trading screen and asset system were either elements already implemented by other companies or were standard, indicating they were results created with considerable investment or effort by Toss Securities.
A Toss Securities official said, "We appreciate the court's judgment and will continue to focus on providing services for our customers."