Choi Tae-won Appeals '1.3808 Trillion Won Asset Division'... Heads to Supreme Court

Choi Tae-won, Chairman of SK Group, Appeals Divorce Lawsuit Second Trial
"Error Found in Property Division Judgment"

Choi Tae-won, chairman of SK Group, has filed an appeal against the court's property division ruling amounting to 1.3808 trillion won in the divorce lawsuit with No So-young, director of the Art Center 'Nabi'.

According to the legal community, Chairman Choi submitted the appeal to the Family Division 2 of the Seoul High Court (Presiding Judges Kim Si-cheol, Kim Ok-gon, Lee Dong-hyun) on the 20th.

At a press conference on the 17th, Chairman Choi stated, "I have decided to appeal due to objective and clear errors found in the property division." Accordingly, the 'divorce of the century' between Chairman Choi and Director No will receive its final verdict at the Supreme Court.

Chairman Chey Tae-won of SK Group [Photo by Yonhap News]

Chairman Choi's side argued that the appellate court made a fatal error in calculating the contribution of Chairman Choi and his father to the increased value of SK shares. The appellate court had revised the degree of contribution by the late founder Choi Jong-hyun and Chairman Choi in its ruling.

In the judgment first disclosed on the 17th, it was stated that the late founder and Chairman Choi contributed to the company's value increase by 12.5 times and 355 times, respectively. However, following Chairman Choi's side's objection, it was corrected to 125 times for the late founder and 35.6 times for Chairman Choi.

In response, Director No's side said, "It is undeniable that the value of SK shares has still achieved a massive increase, and this does not affect the conclusion," adding, "This is an attempt to distort part of the facts and obstruct the judiciary's judgment."

The appellate court also issued a statement that, while correcting part of the judgment, the ruling on the 2 billion won consolation money and the 1.3808 trillion won property division remains unaffected.