[Market Focus] 'Divorce Lawsuit' Remanded... SK Plunges Over 6%

SK Group Chairman Chey Tae-won and Director Noh So-young of the Nabi Art Center are currently undergoing a Supreme Court remand decision regarding their divorce and asset division appeal, which has led to a sharp drop in SK's stock price.

As of 11:15 a.m. on October 16, SK was trading at 217,500 won, down 14,000 won (6.05%) from the previous day.

SK's stock price, which had opened higher that day, plummeted around 10:19 a.m. following news of the Supreme Court's remand decision in the divorce appeal case.

Initially, the market had anticipated that Chairman Chey would seek to boost SK's stock price in order to raise funds for the asset division. The asset division amount previously determined by the appellate court was as high as 1.3808 trillion won.

However, with the latest Supreme Court decision, there is now a possibility that the amount could be reduced in the retrial, dampening expectations for a stock price boost.