When you divorce under Korean law, there are the matters of property division and consolation money.
A property division is a legal right of any spouse who is divorced under the Korean law. Some people think a spouse at fault is not awarded this right, but that is not true. There was a court case where even a spouse who cheated on the wife can claim for property division.
The subject of division is any and every marital asset acquire and/or maintained during the marriage. The debts are also divided.
When dividing the marital asset, the Korean court will decide and apply the contributor share of each party in the course of acquiring and maintaining the marital assets regardless of whose name is on it. Most common ration is 50:50. But when the time of marriage is very short and the value of the assets is high, the Korean court has a tendency to limit the wife’s share at a very low level.
Please note that a property division is not grated in case of an annulment or divorce cancellation.
A consolation money is a monetary compensation for the emotional distress caused by the party who is solely or more responsible for the marriage breakdown. The amount of consolation money granted by the Korean court usually ranges from 10,000USD to 100,000USD. It depends on the duration of marriage, degree of fault, age, financial status and so on. There are many cases where the court dismisses the consolation money claim when both parties are mutually liable for the divorce or it is hard to decide who is more responsible.
You can find more articles about Korean divorce law and cases here.
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