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South Korean court abolishes law saying adultery is illegal, condom maker stocks soar

WATCH ABOVE: A South Korean court on Thursday abolished a 62-year-old law that bans extramarital affairs, and the stock price of a prominent condom maker immediately shot up 15 percent.

SEOUL, South Korea (AP) — South Korea’s Constitutional Court has abolished a 62-year-old law that bans extramarital affairs after ruling that the law suppresses personal freedoms.

A court official said Thursday that the ruling could affect potentially thousands people who face a trial or have already been found guilty of breaking the law since late 2008, when the court previously upheld the adultery ban.

WATCH: Ashley Madison sues South Korea over allegations of illegal activity

Under the law having sex with a married person who is not your spouse was punishable by up to two years in prison. Nearly 53,000 South Koreans have been indicted on adultery charges since 1985, but prison terms have been rare.

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Supporters of the law say it promotes monogamy and keeps families intact, while opponents argued that the government has no right to interfere with people’s private lives.

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