After Eight Years of Dual-Income Work, Where Did Their Money Go? Stock and Virtual-Asset Losses, Plus Credit Loans [What Do You Think?]

[Financial News]  A woman who was allowed to spend only 300,000 won a month and had to show her husband records of her expenditures reportedly learned belatedly that most of the assets she and her husband had accumulated through eight years of dual-income work had disappeared due to investment losses.
On the 15th, YTN Radio's “Attorney Jo In-seop's Counseling Center” introduced the concerns of a woman who had been married for eight years and was raising an elementary school-aged son.
The woman said that both spouses had been working. She explained that, because she was not good with numbers while her husband, a science-track graduate of a prestigious university, was skilled at calculations, she entrusted him with managing the money after they married. However, she confessed that she had felt intense pressure because of her husband's attitude as he controlled the household finances.
She said, "I sent most of my monthly salary to my husband, but the monthly allowance he gave me was 300,000 won." She added, "He told me to cover my lunch, transportation, and clothing expenses with that money."
She also said there had been conflicts over her card spending. The woman claimed, "He was excessively strict about checking my card statements. He would interrogate me, asking, 'Why do you drink coffee so often?' and 'Who did you eat with?' When I bought my mother a 200,000-won bag as a birthday present, he flew into a rage and said, 'Why are you recklessly spending household money without permission?'"
According to her account, the husband reacted strictly to his wife's spending but did not adequately disclose his own expenditures.
The woman said she was deeply shocked after checking her husband's accounts. He had allegedly invested the money they earned through eight years of dual-income work, along with credit loans, in stocks and virtual assets (cryptocurrencies) without telling her, and had suffered substantial losses in the process.
She said that when she confronted her husband, he instead shouted at her. She recounted, "When I asked him, 'Why did you do this without consulting me?' he shouted back, 'How dare someone who can't manage a single penny try to take control of the finances?'"
She also wanted to know whether the situation could constitute grounds for divorce. The woman said, "My husband did not cheat on me or hit me, but I was unable to freely spend the money I had worked hard to earn. I also had to watch his mood whenever I met friends or took care of my parents."
Attorney Lim Hyeong-chang explained that even in the absence of infidelity or physical violence, prolonged financial control and restrictions on spending could constitute grounds for a court-ordered divorce if they had damaged the marital trust to the point that it was difficult to restore.
Regarding one spouse taking control of the household finances, Attorney Lim said, "It can become a problem when financial management is not based on mutual agreement but is used as a means of controlling or pressuring the other spouse."
He also stated, "If one spouse repeatedly and over a long period excessively restricts living expenses, monitors every expenditure, or takes only the other spouse's income while concealing their own financial situation, such conduct may be considered unfair treatment within the marriage or one circumstance contributing to the breakdown of the marriage."
Attorney Lim advised that anyone considering divorce should organize the relevant details. He said, "Rather than simply claiming that 'my husband managed the money,' it would be helpful to document specifically what restrictions the woman faced in her daily life and how her husband unilaterally managed and disposed of the assets."
He said the losses from the stock and virtual-asset (cryptocurrency) investments made without the wife's consultation would need to be examined on a case-by-case basis. Attorney Lim explained, "The husband cannot automatically be held responsible for the entire loss simply because the investment failed. It is necessary to examine in detail the timing and scale of the investment and how the losses occurred."
He said whether the spouse consented to the investment and whether loans were taken out could be important considerations. Attorney Lim advised, "A loss resulting from an investment made with the couple's consent may be assessed differently from speculative trading conducted after taking out loans without the spouse's knowledge." He added, "It would be advisable to identify as fully as possible the deposits, securities accounts, and loan records in the husband's name, as well as how the funds moved."
Regarding the division of property, he explained that ownership would not be determined solely by whose name appeared on the assets. Attorney Lim said, "If the husband managed all of the household finances, most assets, including apartments, deposits, and stocks, are likely to be in his name. However, property division is not decided based solely on legal title." He added, "If the property was accumulated through the couple's joint efforts during the marriage, it may fully qualify for division even if it is registered in only one person's name."
He said that the woman's having worked and sent her salary to her husband for eight years could also serve as evidence of her contribution. Attorney Lim stated, "If she worked for eight years and transferred her salary to her husband, her financial contribution can be demonstrated through bank-transfer records or payroll records." He added, "The fact that all the accounts are in the husband's name does not mean she is entitled to nothing."
Finally, he explained that if the husband had managed the assets alone for an extended period, their financial circumstances could be verified during litigation through measures such as an order to submit financial transaction records. He added, "If you have decided to pursue a divorce, it would be advisable to first organize the information you currently have about your husband's banks, securities firms, real estate, and other assets."


[email protected] Han Seung-gon Reporter