Why Was the Remarried Woman Who Withdrew 5.6 Billion Won Cleared in the Case of the 12 Billion Won Asset Owner Who Died Two Months After Marriage?

Cleared of Charges Over Alleged 5.6 Billion KRW Withdrawal and Embezzlement from Bank Account

A woman in her 60s with Chinese nationality, who married an octogenarian known to be a billionaire with assets worth around 12 billion KRW, was accused of embezzling 5.6 billion KRW but was investigated for nearly a year and ultimately cleared of charges.

On the 7th, Yonhap News reported that the Anti-Corruption and Economic Crime Investigation Unit of the Incheon Metropolitan Police Agency decided not to prosecute Ms. A, in her 60s, who was accused of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.

50,000 won bill. Photo by Yonhap News TV

The police also made the same decision regarding her son-in-law, who was co-accused of the same charges. Previously, Ms. A and her son-in-law were suspected of withdrawing and embezzling 5.6 billion KRW from the bank accounts of her husband Mr. B (89, deceased) from 2023 until June of last year. The son-in-law was known to have built a trusting relationship with Mr. B while managing the maintenance of his buildings.

Mr. B lived alone for a long time after separating from his wife and remarried Ms. A at the end of April last year, but he passed away from a chronic illness in early July, just two months later. It was reported that he left a video will stating his intention to leave his assets to his wife Ms. A, not his children. Mr. B’s son filed a police complaint in June last year, alleging that Ms. A deceived his father, who was suffering from dementia, and embezzled his assets.

The police, after investigating Ms. A as a suspect, recently decided not to prosecute, judging that there was insufficient evidence to prove fraud charges. A police official said, "The investigation was recently concluded," but added, "We cannot disclose the specific reasons for the decision of no charges."

Meanwhile, although a will can directly determine the distribution of assets, if a person dies without a will or leaves only part of their assets through a will, statutory inheritance applies. Under Korean civil law, direct ascendants and descendants, siblings, and collateral relatives within the fourth degree are designated as blood relatives for inheritance, and spouses are designated as spouse heirs. Notably, direct descendants and spouses are guaranteed one-half of the statutory inheritance share as a reserved portion, while direct ascendants are guaranteed one-third.

Inheritance is broadly divided into testamentary inheritance and statutory inheritance. Testamentary inheritance can take various forms, including notarized wills, substitute trust wills, holographic wills, audio recordings, secret wills, and oral wills, and private gifts have similar effects to wills.

Wills can be made not only for heirs but also for third parties or corporations. However, unlike the United States, many people in Korea die without a will, making statutory inheritance more significant.