SK Group Chairman Chey Tae-won Accepts 700 Billion Won in Asset Division, Will Contest Only 244 Billion Won

SK Group Chairman Chey Tae-won has decided not to contest 700 billion won out of the 944 billion won in asset division he is required to pay to Art Center Nabi Director Roh Soh-yeong, choosing instead to seek a final Supreme Court judgment solely on the remaining 244 billion won.

Legal circles reported that Chairman Chey's legal team submitted an application to reduce the scope of their appeal to the court on August 31.

Chairman Chey's side stated, "As the dispute has dragged on for too long, in a broad-minded effort to reduce the conflict and resolve it swiftly, we accept the 700 billion won, but we will contest the amount exceeding that on legal grounds."

Consequently, the legal issues concerning asset division to be handled by the Supreme Court are expected to narrow.

In the second remand appeal, legal battles are expected to focus on whether it was appropriate for Director Roh's contribution rate to drop only slightly from 35% to 33.3% even though the 30 billion won slush fund belonging to former President Roh Tae-woo was excluded from the asset division judgment.

Previously, the Supreme Court ruled that the 30 billion won slush fund should not be taken into account in the asset division.

However, in the remand trial, Director Roh's contribution rate fell by only 1.7 percentage points compared to the appellate ruling.

Another key issue is expected to be whether it was valid to reflect the increase in the value of SK Inc. shares—which rose after the finalization of the divorce—in calculating the asset division ratio.

The decision to include SK Siltron shares in the scope of asset division is also expected to be a contentious point.

Legal disputes are likely to center on whether it is appropriate to include shares acquired in 2017, after the breakdown of the marital relationship, in the asset division, which is premised on the joint contribution of the couple.

Previously on August 14, Chairman Chey's legal team filed a re-appeal with Presiding Judge Lee Sang-joo of the Family Division 1 at the Seoul High Court, which handled the remand trial for the asset division lawsuit.

This was in objection to the remand ruling that ordered Chairman Chey to pay 944 billion won in cash to Director Roh.

Director Roh's side has reportedly not filed a counter-appeal as of yet.

For Director Roh's side to file a counter-appeal, it must be submitted before the 20-day period for submitting the statement of grounds for appeal by Chairman Chey's side expires.
※ Please note: This article was translated by AI and may contain errors.