Notice Sent to Press 1 Minute Before Deadline: "We Have Filed an Appeal"

At 11:59 p.m. last night (the 14th), an official statement from SK Group Chairman Chey Tae-won's legal representatives was sent to the court press corps.

The statement noted that, after deep deliberation considering various circumstances, they had filed an appeal.

Just one minute before the final deadline for the appeal, the decision to challenge the remand ruling—which ordered him to pay 944 billion won in cash to Art Center Nabi Director Roh Soh-yeong—was announced.

The legal team also stated that they would approach future procedures with an attitude of minimizing negative impacts on shareholders and group management.

With Chairman Chey opting for an appeal, the legal battle between the two, which has already spanned over nine years since 2017, is set to be prolonged.

Regarding the decision to appeal, the business and legal communities interpret it as a refusal to accept the ruling mandating the cash payment of 944 billion won.

This is because, despite the Supreme Court's ruling that former President Roh Tae-woo's slush funds were illegal and could not be considered a contribution by Director Roh even if they flowed into SK, the property division ratio remained similar to that of the second-trial ruling.

Additionally, some analyze that practical difficulties in securing a massive amount of cash in a short period likely served as a backdrop.

If the remand ruling had been finalized, Chairman Chey would have faced an annual interest rate of 5% if he failed to pay the 944 billion won to Director Roh immediately from midnight today.

The interest alone amounts to around 130 million won per day.

There had been speculations that securing 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 Editing by Na Hong-hee | Design by Lee Jung-joo | Production: Digital News Department)
※ Please note: This article was translated by AI and may contain errors.