A crucial appellate court decision is expected late next month in the high-profile asset division case involving SK Group Chairman Chey Tae-won and his former spouse, Roh Soh-yeong.
The Seoul High Court has announced it will issue its ruling on July 24, a session both Chey Tae-won and Roh Soh-yeong are slated to attend. This follows the Supreme Court’s decision last October to remand the complex divorce and asset division case back to the Seoul High Court, while confirming the dissolution of their marriage.
Upon leaving the court, both Chey and Roh declined to comment to waiting reporters.
Earlier attempts at mediation for the significant asset division proved unsuccessful, leading the Seoul High Court to resume trial proceedings this month. A key point of disagreement remains whether Chairman Chey’s substantial SK Inc. stock holdings should be included in the marital asset division.
Chey maintains that his SK Inc. stocks constitute separate property, having been acquired through inheritance or as gifts. Conversely, Roh argues these holdings should be considered joint property, citing her significant contributions to child-rearing and household management throughout their marriage.
Another critical aspect currently under contention is the precise valuation date for Chey’s 17.9 percent stake in SK Inc.
While the shares were initially valued at 160,000 won (approximately $103.33) each when oral arguments for the appellate trial concluded in April 2024, their value has since dramatically surged, now exceeding 800,000 won per share.
In May 2024, the Seoul High Court had previously ordered Chey to pay approximately 1.38 trillion won in asset division to Roh. This prior ruling acknowledged a purported slush fund of 30 billion won that Roh’s father allegedly funneled to Chey’s father.
However, the Supreme Court subsequently overturned that ruling, stating that even if the alleged fund existed, it could not be factored into the asset division due to its apparent illegal nature.
The protracted legal battle began in 2015 when Chey publicly announced his intention to divorce, admitting to an extramarital relationship and a child with another woman. He formally filed for divorce settlement two years later.
