| On July 16, 2014, the Supreme Court of Korea sitting en banc (Presiding Justice: Chief Justice Yang Sung-tae, Justice in charge: Justice Min Il-young) changed past Supreme Court precedents, rendering a judgment that “Even though one spouse actually did not receive retirement benefit because he or she still worked at the time of divorce, retirement benefit bond can come under subjects of division of property because it was a property that already potentially existed, and realistic assessment on its economic value was possible at the time of closing argument in fact-finding proceedings of divorce litigation. Specifically, at the time of closing argument in fact-finding proceedings of divorce litigation, bond equivalent to the amount of retirement benefit which is expected to receive upon retirement is the subject of division of property.” (Supreme Court en banc Decision delivered on July 16, 2014, 2013Meu2250) |
