SK Group Chairman Chey Tae-won appealed a high court’s ruling ordering him to pay 1.38 trillion won ($1 billion) in property division, and 2 billion won in alimony to his estranged wife, Roh So-young, in South Korea’s largest-everdivorce settlement.
Chey’s appeal was submitted to the Supreme Court by his legal representatives from Kim & Chang, Logos, One and KHL, according to people familiar with the matter on June 20.
Chey argued that there was an “objective, clear error in the appellate court’s ruling regarding property division” during a press conference on June 17. and announced his intention to appeal the ruling to the Supreme Court.
SK Group said that the stock price of Korea Telecom, the predecessor of SK Inc., was 1,000 won per share in 1998, but the court set the price at 100 won per share, resulting in an incorrect calculation of the property division sum. The group claimed that the appellate court’s calculation that Korea Telecom’s stock price increased 355-fold between 1998 and 2009 is thus incorrect and should have been considered a 35-fold increase.
The court revised the ruling to “1,000 won per share” and corrected its calculation to a “35-fold increase” as requested by Chey’s legal representatives but did not change its conclusion, claiming the error does not affect the property division sum.
