When you divorce under Korean law, there are subsequent legal matters of property division and consolation money.
A property division is a legal right of any spouse who is divorced under 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 acquired 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. The most common ratio 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.(more…)