Compensation Increased from 100 Million to 2 Billion Won
"Acknowledged Significant Funds Received from Former President Roh"
Director Noh's Side: "An Excellent Ruling Reflecting Constitutional Values"
Choi Tae-won, chairman of SK Group, was ordered by the appellate court to pay 1.38 trillion KRW to No So-young, director of the Art Center Nabi, as property division following their divorce. Unlike the first trial, the court recognized No’s contribution to the SK shares held by Chairman Choi and included them in the property division.
On the afternoon of the 16th of last month, SK Group Chairman Chey Tae-won and No So-young, Director of Art Center Nabi, appeared side by side at the divorce lawsuit appeal trial held at the Seoul High Court in Seocho-gu, Seoul. [Image source=Yonhap News]
On the 30th, the Family Division 2 of the Seoul High Court (Presiding Judges Kim Si-cheol, Kim Ok-gon, Lee Dong-hyun) ruled in the divorce appeal case between Chairman Choi and Director No, ordering “the plaintiff (Chairman Choi) to pay the defendant (Director No) 2 billion KRW in consolation money and 1.3808 trillion KRW as property division.” This amount is a significant increase from the first trial in December 2022, which awarded 100 million KRW in consolation money and 66.5 billion KRW in property division. Notably, the property division amount is the largest known to date.
The court estimated the couple’s total assets at approximately 4.0115 trillion KRW and ruled that the property should be divided with Chairman Choi receiving 65% and Director No 35%.
The court recognized Director No’s contribution to the SK Co., Ltd. shares owned by Chairman Choi, deeming them marital property. The court stated, “The SK shares were acquired during the marriage, and it is judged that a substantial amount of funds flowed to the plaintiff’s father from former President Roh Tae-woo in 1991,” adding, “Plaintiff’s father, Choi Jong-hyun, played a protective role in acquiring Taepyungyang Securities and entering the mobile telecommunications business, thereby providing intangible support to the successful management activities of SK Group.”
Regarding the consolation money calculation, the court noted, “Chairman Choi spent over 21.9 billion KRW on maintaining a relationship with Kim Hee-young, chairperson of the T&C Foundation, after separating from Director No, and also provided economic benefits that cannot be quantified. The consolation money amount of 100 million KRW awarded in the first trial for the mental distress caused by the breakdown of the marriage is too low.”
The court also criticized Chairman Choi, stating, “Although the marriage was not legally dissolved, from February 2019 he suspended credit cards and, after the first trial ruling, stopped providing cash living expenses,” and added, “During the lawsuit, he has not shown sincere remorse for his misconduct and has displayed an attitude that does not respect monogamy at all.”
The couple married in September 1988 and had three children but separated in 2015. They applied for divorce mediation in July 2017 and entered formal legal proceedings but failed to reach an agreement, leading to a lawsuit in February 2018. Director No, who initially insisted on not divorcing, changed her position in December 2019 and filed a counterclaim for divorce.
The first trial court accepted Director No’s claim in December 2022, ordering Chairman Choi to divorce her and pay 100 million KRW in consolation money and 66.5 billion KRW in cash as property division. However, the court rejected Director No’s demand for 50% of the SK Co., Ltd. shares held by Chairman Choi, ruling that “it is difficult to see that Director No substantially contributed to the formation and maintenance of SK shares.”
Both parties appealed the first trial ruling. In the appellate court, Director No changed her property division claim from SK shares worth over 1 trillion KRW to 2 trillion KRW in cash and increased the consolation money claim to 3 billion KRW.
Director No’s legal representative said to the press after the verdict, “We thank the court for their efforts to uncover the substantive truth,” and praised the ruling as “an excellent judgment that deeply considered the constitutional values of marital purity and monogamy.” Regarding whether to appeal to the Supreme Court, they stated, “We will review the judgment documents and respond accordingly.”
Meanwhile, neither Chairman Choi nor Director No appeared in court on the day, and Chairman Choi’s representatives also did not appear in court.
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