Divorce attorney in Korea ‘s letter : Property Division
If you ever thought about divorce in Korea, if there’s no agreement on divorce, and if only one of the spouses files a divorce case to the court, the court decides whether the couple should get a divorce or not based on the grounds of divorce(Check the Korean Law on Divorce: Click). If a marriage has come to a breakdown and the relationship has no chance to recover, the court grants a divorce, and the property division process follows. If you and your spouse reach out to a divorce agreement including the division of property, it would be easier to finalize your divorce very simple and fast(See the article about Amicable divorce with full legal effect).
The court has a vast discretion to determine what property is divisible, and how it should be divided, based on the extent to which the parties contributed to the formation of any particular asset. As the divorce attorneys in Korea said, the Korean court follows the ‘equitable division’ approach. It means marital property and debts need not be divided 50/ 50. Many cases are resolved with 60/40, and 70/30 splits, and some even, allocate all marital property to one spouse.
As LEE&LEE’s Family law expert attorneys, we have been representing numerous clients in divorce, introduced in a previous article(Check how the property division works in Divorce in Korea), ‘the cause of the marriage breakdown or who is at fault doesn’t role as a factor in the division of property.
Our divorce attorney in Korea introduces an interesting case in regard to the division of property in Korea. A case in which a wife only received 800 million KRW while her husband was a wealthy businessman of 10 billion KRW. This may seem strange to foreigners in Korea, but Fluent in English, our Family law expert attorneys explain to you the reasoning of the court below :
The wife filed a divorce suit against her husband, who was cheating on her and having an affair with a mistress. The court usually determines a contribution of a housewife to the marital property as 40-50% considering their long period of marriage, however, in this case, even though the husband was responsible for the breakdown of a marriage, the wife received a comparably small amount of money. An important factor, in this case, was that most of the husband’s property was acquired after the marital relationship had been irretrievably broken down. The court acknowledged the partially recognized the wife’s contribution to the husband’s property who kept the family despite her husband’s affair. Still, the wife could receive compensation for psychological/emotional damage by her husband’s affair.
This case shows that even a cheating spouse can get an equitable distribution in property division, in such circumstances in which he or she solely contributed to the creation and increase of assets after the marriage breakdown. The court confirmed that a spouse can only get a fair share of the property according to his or her contribution. If you’re a foreigner considering getting divorced in Korea, Korea Bar Association Certified LEE&LEE’s Family law Specialist, divorce attorneys will provide you precise analysis of prospects, Best legal strategies, and representation.
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