Choi Tae-won, chairman of SK Group, has filed an appeal with the Supreme Court against the ruling in his divorce case with No So-young, director of the Art Center Nabi, signaling a fierce legal battle over property division.
According to Yonhap News on October 12, Choi's legal team submitted the appeal to the Supreme Court, which is reviewing the property division case. The central issue in the appeal is whether the property division ratio of 'Choi 66.6% to No 33.3%' determined by the appellate court is appropriate.
Last October, the Supreme Court ruled that even if 30 billion won from the late former President Roh Tae-woo's slush fund had actually flowed to SK, it should not be considered in the property division as it is 'illegal funds.' This led to the appellate court excluding the slush fund from the division calculation while still recognizing No's contribution at 33.3%.
This figure is only a 1.7 percentage point decrease from the 35% acknowledged by the appellate court before the Supreme Court's ruling. Choi's team argues that it is unfair for No's property division ratio to decrease only slightly despite the exclusion of the slush fund's contribution.
Choi's legal team also raised concerns about the appellate court's decision to factor in the increase in SK's stock price in the property division ratio. The appellate court, following Supreme Court precedent, set the division date as April 16, 2024, using a stock price of 160,000 won at that time.
However, after the stock price surged to around 800,000 won by the end of the appellate court's proceedings, the judges decided to incorporate this significant increase into the division ratio for fairness. Choi's team believes this judgment is legally untenable.
Additionally, Choi's team is contesting whether the shares of SK Siltron, acquired in 2017 after the marriage had broken down, should be included in the property division.
* This article has been translated by AI.
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