1. All appeals by the plaintiffs and the defendant are dismissed.

2. The costs of appeal shall be borne by each party.

purport, purport, and.

1. The reasons why the court should explain in this decision are as follows. In addition to the addition of the defendant's argument to "paragraph 3," the reasoning of the judgment of the court of first instance as stated in the main sentence of Article 420 of the Civil Procedure Act, it shall be cited in accordance with the main sentence of Article 420 of the Civil Procedure Act.

2. Parts to be dried;

(a)the following shall be added between conduct 7(7) and 8(9) of the first instance judgment:

According to Articles 9(4), 46(3), and 47(1) and (3) of the Financial Investment Services and Capital Markets Act, in order to protect investors lacking expertise and information compared to financial investment business entities, the Financial Investment Services and Capital Markets Act provides that a financial investment business entity shall comply with the suitability principle and the duty to explain in cases where it solicits an ordinary investor to make an investment. However, only the subject of compliance with such duty is defined as “financial investment business entity” and is not limited to cases where a financial investment business entity solicits an investment in order to enter into a contract on the goods

In light of the aforementioned provisions and purport of the Financial Investment Services and Capital Markets Act, a financial investment business entity’s solicitation to enter into a contract beyond simply introducing financial investment instruments, etc. dealt with by another financial investment business entity through past transactions, etc. and actively involved in such solicitation and explanation. Furthermore, if G used as an important factor for determining whether to enter into a contract with another financial investment business entity based on the trust in the relevant financial investment business entity or make a decision on whether to make an investment, the relevant financial investment business entity may be deemed to have engaged in “investment solicitation” under Article 9(4) of the Financial Investment Services and Capital Markets Act, and such evaluation is required.