1. Of the judgment of the court of first instance, the part against the defendant in excess of the money ordered to be paid below shall be revoked.

1. The reasons why the court should explain by the court of first instance are as stated in the main sentence of Article 420 of the Civil Procedure Act, inasmuch as the reasons for the decision of the first instance are the same as those stated in the provisions of paragraphs 1 through 3, except that the first through 15 of the 7th decision of the first instance is used as stated in the following Paragraph 2.

2. As to whether the amount of liquidated damages is unfairly excessive, the amount of liquidated damages is presumed to be an estimate of liquidated damages under Article 398(4) of the Civil Act, special circumstances should be demonstrated to the effect that the penalty is to be interpreted as a penalty for liquidated damages. On the other hand, where the amount of liquidated damages is unreasonably excessive, the court may reduce it ex officio, even if there is no party’s assertion. The term “unfair excessive amount” in this context refers to cases where the payment of liquidated damages is deemed to result in the loss of fairness by imposing unfair pressure on the debtor in light of the general social norms in light of all the circumstances such as the status and position of the creditor and the debtor, the purpose and content of the contract, the motive behind the expectation of liquidated damages, the rate of estimated amount of liquidated damages, the estimated amount of estimated damages, the amount of estimated damages, and the transaction practices at the time, etc. (see Supreme Court Decision 2009Da60169, Dec. 24, 2009).

If it is not carried out within the above period, the monthly rent of KRW 10 million shall be paid in the amount of monthly rent for the land.

“The content of the contract is an agreement for penalty that the Defendant planned to fulfill the obligation under the contract of this case due to its fault, which is presumed to be an estimate of the amount of damages under Article 398(4) of the Civil Act. However, in this case, unless there is any assertion as to the special circumstance that should be interpreted as a penalty for breach of contract, the agreement for penalty shall be deemed to be an estimate of the amount of damages.