Even if HIT’s competitors include the enterprises, expected to enter the market, the likely
exclusion of competitors should be determined case by case based on a comprehensive
examination of the intention and purpose of the predatory pricing in question, the degree of
the low price concerned, the size and market standing of the business in question, and the
circumstances of any enterprises affected by the predatory pricing. Given the purpose of the
Bidding noted earlier, and in the absence of the record to forecast that HIT would submit a
lowest bidding price again in the new market in the future, it is difficult to find HIT’s onetime
practice in the Bidding to be likely to exclude competitor. In that regard, the appellate
court did not err by drawing the conclusion.