Court orders SK chief to pay 1.3 trillion won in divorce settlement

May 31, 2024, 09:41 am

AsiaToday reporters Kim Chae-yeon & Lim Sang-hyuk

An appeals court overturned the initial ruling and ordered SK Group Chairman Chey Tae-won to pay more than 1.3 trillion won, or over US$942 million, in property division to his estranged wife Roh So-yeong. The court also emphasized that the shakes of SK Group should be equitably distributed. In response, Chey strongly criticized the court, saying, “The ruling shakes the history and future of the company with prejudice and prediction.”

The Seoul High Court on Thursday ordered Chey to pay 1.38 trillion won in property division, in addition to 2 billion won alimony, the largest known property division for a divorce in the country. The amount makes a sharp increase from the 100 million won in alimony and 66.5 billion won in property division ordered by the lower family court in December 2022.

In explaining the property split, the court said it recognized Roh had made significant contributions to SK Group’s expansion as her father, former President Roh Tae-woo, provided slush fund to Chey in the 1990s, which was allegedly used to acquire SK Securities and shares of Daehan Telecom, later SK Telecom, and SK Holdings. While increasing the district court’s alimony amount 20-fold, the court said that Roh suffered mental distress from the breakdown of their marriage.

Immediately after the trial, Chey’s legal team expressed regret, saying, “We cannot agree to the ruling made based on prejudice without evidence that shakes the history and future of the company. We will make sure to correct the wrong part through appeal.”

Chey’s side pointed out, “The court disclosed Roh’s one-sided claims as if they were true. It is a serious legal error of recognition of facts and a direct violation of the principle of private domestic trials.”

#SK Group #divorce #court #Roh So-yeong #Chey Tae-won