SK Group Chairman Chey Tae-won answers reporters' questions after visiting the site of a planned semiconductor industrial complex at Gwangju Air Base in Jeonnam-Gwangju on Oct. 9.YONHAP
SK Group Chairman Chey Tae-won took his divorce-related property dispute with his estranged wife, Roh Soh-yeong, back to the Supreme Court on Monday.
Chey submitted a written statement of grounds for appeal to the Supreme Court in the renewed appeal over the division of property with Roh.
Chey initiated divorce proceedings in 2017 with Roh following an extramarital affair with his current domestic partner, Kim Hee-young. They have one child between them. Chey and Roh married in 1988 and have three children together.
Chey reportedly challenged the 67-33 property division ratio and whether late President Roh Tae-woo’s alleged slush fund should be counted as Roh Soh-yeong’s contribution to the couple’s assets. Late President Roh is the father of Roh Soh-yeong.
The Supreme Court previously sent the case back to a lower court in October last year and ruled that 30 billion won ($23 million) from the former president’s alleged slush fund should not have been considered when determining the division ratio.
The court found that even if the money had existed and been transferred to SK, it would have constituted “illicit funds” and therefore could not be counted as the estranged wife’s contribution to the marital property.
Chey Tae-won, left, chairman of the SK Group, and his estranged wife Roh Soh-yeong attend a legal proceeding for their divorce trial at Seoul High Court in Seocho District, southern Seoul on June 15.YONHAP
The appellate court that reheard the case in July found that Roh Soh-yeong’s contribution still amounted to 33 percent even after excluding the alleged slush fund.
That was only slightly lower than the 35 percent contribution recognized by the appeals court before the Supreme Court sent the case back.
Chey’s side reportedly argued that it was unfair that Roh’s share of the marital property fell only slightly, even after the former president’s alleged slush fund was excluded from the calculation.
Chey’s side also challenged the retrial court’s decision to consider the rise in SK’s share price when determining the property division ratio.
SK Group chief Chey Tae-won, right, and his partner Kim Hee-young attend the "One Planet, Building Bridges To A Better Future" Gala at Fondation Louis Vuitton on Oct. 14, 2023 in Paris.GETTY IMAGES
SK shares stood at 160,000 won when arguments closed in the previous appeals trial, but had jumped more than fivefold to over 800,000 won by the close of arguments in the retrial.
Roh has not filed a cross-appeal so far.
A cross-appeal allows the other party to challenge parts of a lower-court ruling that were unfavorable to them once one side has appealed. Roh has until Tuesday, the deadline for Chey to submit his grounds for appeal, to file one.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
