"Even with a 1 Billion Delay, It's a Big Problem"... This Place Is Troubled by the Conflict Between Choi Tae-won and Noh So-young

Noh So-young Still Refuses to Leave Walkerhill Luxury Villa
Remains Silent Despite Hotel's Certified Letter

Choi Tae-won, chairman of SK Group, and No So-young, director of Art Center Nabi who is involved in a property division lawsuit, have relocated the art gallery that had been operated for over 20 years at the SK Seorin Building in Jongno-gu, Seoul, to another location following a court ruling. However, it has been confirmed that No So-young is still staying at a villa within the Walkerhill Hotel in Gwangjin-gu, Seoul, operated by SK Networks, while owing accommodation fees amounting to billions of won. On the 25th, Chosun Biz reported that Art Center Nabi recently vacated the SK Seorin Building, the headquarters of SK Group.

Noh So-young, Director of Art Center Nabi
Photo by Yonhap News

Art Center Nabi had been operating on the 4th floor of the SK Seorin Building since December 2000 until recently. SK Innovation, which manages the Seorin Building, requested Art Center Nabi to vacate in September 2019 due to the expiration of the lease contract, but Art Center Nabi resisted leaving. Eventually, a lawsuit ensued, and in June, Art Center Nabi’s eviction was confirmed. Afterward, Art Center Nabi left the SK Seorin Building, but Director No was confirmed to still be using a luxury villa within SK Group’s Walkerhill Hotel.

According to reports, Director No has been staying in a villa prepared for long-term stays by VIPs at the Walkerhill Hotel since 2015. The Walkerhill Hotel operates about ten ultra-luxury villas named Pearl, Jade, Sapphire, Emerald, and others, and Director No moved to the Emerald Villa she uses even after the wedding of her youngest daughter, Choi Min-jung, on the 13th.

The Emerald Villa is the largest among the villas, with an area of 1,505㎡ (approximately 455 pyeong), and the monthly accommodation fee is known to reach 70 million won. It features a duplex floor-to-ceiling window structure, making the villa invisible from other buildings, and professional security personnel are stationed 24 hours at all entrances. There is a dedicated gardener for landscaping, and room cleaning and supply replacement services are provided regularly.

Monthly accommodation fee alone is 70 million won... Accommodation fees incurred so far amount to billions of won

It is known that the accommodation fees incurred by Director No So-young while staying at the Emerald Villa have reached billions of won. However, Director No reportedly has not responded to SK Networks’ certified letters demanding payment of the overdue rent. Considering its reputation, the hotel has sent several certified letters instead of taking forced eviction measures.

Meanwhile, Chairman Choi and Director Noh are in conflict over the extent of property division due to their divorce. In May, the Family Division 2 of the Seoul High Court ruled that Chairman Choi must pay Director Noh 1,380,817,000,000 KRW in property division and 2 billion KRW in alimony. Chairman Choi has filed an appeal, and the Supreme Court is scheduled to review the case.
[Photo by Asia Economy]

The bigger problem is that even if Director No vacates, if the overdue accommodation fees are not collected, it could directly lead to allegations of breach of fiduciary duty against the management, putting SK Networks in a difficult position. Meanwhile, Director No’s assets are estimated to be around 23 billion won. She is also known to own a 430㎡ (approximately 130 pyeong) mansion in Hannam-dong. The mansion is leased by a famous wedding studio, and based on nearby market prices, the monthly rent is estimated to be between 12 million and 20 million won.

Meanwhile, Chairman Choi and Director No are in conflict over the extent of property division due to their divorce. In May, the Family Division 2 of the Seoul High Court ruled that Chairman Choi must pay Director No 1,380,817,000,000 won in property division and 2 billion won in alimony. Chairman Choi has filed an appeal, and the Supreme Court hearing is pending. However, since both parties have agreed to the divorce ruling excluding the property division, the divorce is effectively finalized.