Court Revises Daehan Telecom Stock Price from '100 Won to 1000 Won'
Choi Tae-won, chairman of SK Group, pointed out a critical error in the appellate court ruling of the divorce lawsuit with Noh So-young, director of Art Center Nabi, prompting the court to amend part of the judgment.
Choi's side stated that since this error served as the basis for determining the scope and ratio of property division, they plan to review legal procedures such as filing an objection.
On the 17th, the Seoul High Court, through a decision to revise the ruling, corrected the value of Daehan Telecom shares from the original 100 won per share to 1,000 won per share as of May 1998.
Accordingly, the previous judgment that assessed Chairman Choi's contribution as 355 times was revised to 35.6 times. However, the core contents of the ruling, including the property division ratio and amount, were maintained as is.
On the same day, Choi's legal representative pointed out this calculation error at a press conference, interpreting it as a claim that the situation would be completely different if the error were corrected.
Lee Dong-geun, attorney at the law firm Hwawoo and legal representative for Chairman Choi, stated, "The appellate court made a serious error in valuing the Daehan Telecom shares acquired by Chairman Choi in 1994."
Daehan Telecom (now SK C&C), the foundation of SK Inc., underwent two stock splits, and the share value in 1998 was 1,000 won per share, but the court calculated it as 100 won per share.
Attorney Lee said, "This issue is a fundamental premise in determining whether the SK Inc. shares, the most crucial asset in this case, are marital property subject to division or Chairman Choi's inherited personal property exempt from division. It is also a key premise in deciding the division ratio."
The court can, on its own authority, issue a decision to revise the judgment if there are clear errors such as miscalculations or incorrect entries in the ruling.
Regarding this, Choi's side stated, "The court's decision to revise acknowledges the error itself, but since the calculation error served as the basis for determining the scope and ratio of property division, it is not a matter that can end with a simple revision."
They added, "Since this is a matter requiring a new substantive judgment on the ruling based on incorrect calculations, we are reviewing legal procedures to file an objection against the court's simple revision."
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