Seoul: An appellate court announced on Friday that it will deliver its verdict late next month regarding the high-profile asset division case between SK Group Chairman Chey Tae-won and his former wife, Roh Soh-yeong. The Seoul High Court is set to hand down its ruling on July 24, during a hearing attended by both Chey and Roh, following the Supreme Court's decision to remand the case to the Seoul High Court last October while confirming their divorce.
According to Yonhap News Agency, the couple left the court without addressing reporters' questions. The two parties had initially attempted mediation for the asset division, but the Seoul High Court opted to resume trial proceedings this month after they failed to reach an agreement, particularly on whether Chey's SK Inc. stocks should be included in the division. Chey maintains that the stocks are his separate property, acquired through inheritance or gifts, whereas Roh argues they should be considered joint property, highlighting her contributions to child-rearing and household management.
A significant point of contention is the valuation date for Chey's 17.9 percent stake in SK Inc. While the shares were valued at 160,000 won (US$103.33) each when oral arguments at the appellate trial concluded in April 2024, their value has since skyrocketed past 800,000 won. In May 2024, the Seoul High Court ordered Chey to pay approximately 1.38 trillion won in asset division to Roh, after acknowledging a purported slush fund worth 30 billion won that Roh's father allegedly channeled to Chey's father. However, the Supreme Court overturned this ruling, stating that even if the alleged fund had been funneled, it could not be considered in the asset division due to its seemingly illegal nature.
The legal battle traces back to 2015 when Chey revealed his intention to divorce, admitting to an extramarital affair and a child with his lover, and subsequently filed for a divorce settlement two years later. Chey and Roh married in 1988 and share three children.