Is the verbal similarity and sound resonance between two registered trademarks for the same class of goods or services or for related services a sufficient reason to refuse the registration of a new trademark?

Yes, the verbal similarity and sound resonance, in addition to the graphical representation and arrangement of characters, between two registered trademarks for the same class of goods or services or for related services, is a sufficient reason to refuse the registration of a new trademark if it is likely to create an impression of association between them or lead to prejudice the interests of the owner of the registered trademark.