The judgment below

Of the plaintiffs, the part of the plaintiffs' claims against the defendant Jinjin Asset Management Co., Ltd. and defendant Han Kin Korean Investment Securities.

The grounds of appeal are examined.

1. As to the ground of appeal No. 1 and No. 2 of the Defendant Jinjin Asset Management Co., Ltd. (hereinafter “Defendant Jinjin Asset Management”) and the ground of appeal No. 1 of the Defendant Kin Korean Investment Securities Co., Ltd. (hereinafter “Defendant Kin Korean Investment Securities”), an asset management company as provided in the former Indirect Investment Asset Management Business Act (amended by Act No. 8635 of Aug. 3, 2007 and repealed by Article 2 of Addenda to the Financial Investment Services and Capital Markets Act (amended by Act No. 8635 of Feb. 4, 2009; hereinafter “Act”) bears the duty of care to protect investors by providing correct information on profit structure and risk factors of investment trust to distributors or investors so that investors can make reasonable investment decisions based on such information, and liability for tort

(2) On September 1, 2008, the court below acknowledged the following facts: (a) Defendant Jinjin Asset Management (hereinafter “Defendant Jinjin Asset Management”) as stated in the instant appraisal report: (b) was aware that the present value of the site for the creation of the instant collateral, calculated according to the “domestic residential distribution method” as stated in the instant appraisal report, was calculated on the premise of the market price when it was developed differently from the Republic of Korea; and (c) was aware that the actual value of the site for the creation of the instant collateral, as of February 2, 2008, is only NZ$620,00-850,000; and (d) was aware that the present value of the site for the creation of the instant collateral, as of February 6, 2008, the present value of the present site was currently NZ$$15,250,000; and (e) Defendant Jinjin Asset Management stated the current value of the present site for the creation of the instant collateral in the instant appraisal report in the financial statements to the extent of the future 2005.