Inasmuch as the reasoning of the judgment of the first instance is the same as that of the judgment, except for the cases where the title (third) and paragraph (4) ( fifth) are applied as follows, they shall be quoted as it is in accordance with the main sentence of Article 420 of the Civil Procedure Act.

【The portion of the contract to pay a penalty is deemed to have resulted in the loss of fairness by giving unreasonable pressure to the obligor who is in the economically weak’s position in light of the general social norms, including the status of obligee and obligor, purpose and content of the contract, the motive behind the contract to compensate for damages, the estimated rate of the estimated amount of damages, the expected amount of damages, the transactional practice at the time and economic conditions, etc. (see, e.g., Supreme Court Decision 2010Da10382, Jul. 15, 2010). In light of the overall arguments revealed in the instant case, the following circumstances are comprehensively taken into account: ① the Plaintiffs, who are the construction company, paid the liquidated damages to the Plaintiff at the reduced rate of KRW 10,00,00,000,000,000,000,000,000 won, and KRW 3,50,000,000,000,00,000.