All appeals are dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined.

1. If the rate of damages for delay against the delay of the monetary obligation is separately agreed, this is a kind of liquidated damages, which is subject to reduction under Article 398(2) of the Civil Act.

Article 398(2) of the Civil Act provides that “Where the estimated amount of compensation for damages is unreasonably excessive” means cases where the payment of the estimated amount of compensation is deemed to result in the loss of fairness by imposing unreasonable pressure on the debtor who is in the position of the economically weak in light of the general social concept of society in light of all circumstances, such as the status of the creditor and the debtor, purpose and content of the contract, motive scheduled for the amount of the compensation for damages, the ratio of the estimated amount of the debt to the amount of the compensation, the estimated amount of

In order to determine whether the estimated amount of compensation for damages is unreasonably excessive and the scope of appropriate reduction thereof pursuant to the above provision, the court should comprehensively consider all the above circumstances that occurred between the court and the court at the time of closing argument in the fact-finding court.

(See Supreme Court Decision 92Da36212 delivered on January 15, 1993, and Supreme Court Decision 99Da38637 delivered on July 28, 200). The determination of fact-finding or its ratio on the grounds for reduction is a matter within the discretionary power of a fact-finding court, unless it is deemed that the determination of the rate is considerably unreasonable in light of the principle of equity.

(2) On December 13, 2007, the court below held that there is sufficient room to view that applying the agreed overdue interest rate to the above period as it would result in the buyer’s loss of fairness by imposing unfair pressure on the buyer, and thus, it is necessary to reduce it.