All appeals are dismissed.

The costs of appeal are assessed against each appellant.

The grounds of appeal are examined.

1. According to Article 2 subparagraph 1 (j) of the Unfair Competition Prevention and Trade Secret Protection Act (hereinafter “Unfair Competition Prevention Act”), with respect to the Defendant’s grounds of appeal Nos. 1 and 2, the act of infringing another’s economic interests by using the outcome, etc. achieved by another’s considerable investment or effort for one’s own business in a manner contrary to fair commercial practices or competition order constitutes an unfair competition act.

For the reasons indicated in its holding, the lower court determined that the result of the prediction and investigation conducted jointly by the Plaintiffs (hereinafter “the result of the prediction and investigation of this case”) constituted the outcome of the Plaintiffs’ considerable investment or effort, and determined that the Defendant’s act of using the predicted results of this case without the Plaintiffs’ prior consent constitutes an unfair competition act under Article 2 subparag. 1(j) of the Unfair Competition Prevention Act, which infringes on the Plaintiffs’ economic interests by using the outcome, etc. achieved from considerable investment or effort for the Defendant’s business in a manner contrary to fair commercial practices or competition order.

The judgment below

Examining the reasoning in light of the aforementioned legal provisions, relevant legal principles, and evidence duly admitted, the lower court did not err in its judgment by misapprehending the legal doctrine regarding the determination standard of “performance” under Article 2 subparag. 1(j) of the Unfair Competition Prevention Act, fair commercial practices and competition order, practices of quoted reports, and legal evaluation thereof, or by exceeding the bounds of the principle of free evaluation of evidence.

2. Defendant’s ground of appeal No. 3 and Plaintiffs’ ground of appeal

A. The court shall consider the whole arguments and the result of the examination of evidence on the basis of the principle of social justice and equity.