At 11:59 p.m. last night (the 14th), a statement from SK Group Chairman Chey Tae-won's legal representatives was sent to the court press corps.
The message stated that, after agonizing deliberation over various circumstances, they had filed an appeal.
Just one minute before the final deadline for the final appeal, they announced their decision to challenge the remand appellate ruling, which ordered him to pay 944 billion won in cash to Roh Soh-young, director of Art Center Nabi.
The legal team also stated that they would approach future proceedings with a commitment to minimizing negative impacts on shareholders and group management.
With Chairman Chey's decision to take the case to the final appeal, the legal battle between the two, which has already spanned over nine years since 2017, is set to be prolonged further.
Regarding the decision to file a final appeal, business and legal circles interpret it as a refusal to accept the ruling that mandates the immediate cash payment of 944 billion won.
This is because, even though the Supreme Court judged that former President Roh Tae-woo's slush fund was illegal money and could not be considered a contribution by Director Roh even if it flowed into SK, the property division ratio remained similar to that of the second trial.
In addition, analyses suggest that practical difficulties in raising such a massive amount of cash in a short period also served as a backdrop.
Had the remand appellate ruling become finalized, Chairman Chey would have faced an annual interest rate of 5% on the 944 billion won if he failed to pay it to Director Roh starting immediately at midnight today.
The interest alone amounts to around 130 million won per day.
There had been speculations that raising such cash could lead to the sale of holding company shares, and the decision is interpreted as having taken into account both the stability of group management and the potential impact on the stock market.
(Produced by Jeong Yu-mi | Video by Na Hong-hee | Graphics by Lee Jung-joo | Produced by SBS Digital News)
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