Chey Tae-won May Owe Roh Soh-yeong 944 Billion Won If Appeal Deadline Missed

SK Group Chairman Chey Tae-won faces a critical deadline this week to decide whether to pursue a final appeal in his high-profile divorce case with Roh Soh-yeong, director of the Art Center Nabi. The decision hinges on whether he will challenge a court order mandating the payment of 944 billion won (approximately $670 million) in asset division to Roh.

The deadline for both parties to file a final appeal is midnight on Friday, August 14. If Chey Tae-won does not submit an appeal by this time, the ruling from the appellate court will stand, requiring him to pay the substantial sum in cash. Interest at an annual rate of 5% will also accrue from the day after the ruling is finalized.

This court-ordered payment of 944 billion won is unprecedented in South Korean divorce proceedings, marking the largest asset division settlement to date. Previous rulings had set the amount at 66.5 billion won in the first trial and a staggering 1.38 trillion won in the second trial. The appellate court's decision excluded funds considered to be former President Roh Tae-woo's slush money from the division but included Chey Tae-won's SK shares, factoring in recent stock market gains to determine the final figure.

Legal experts had initially anticipated that Roh Soh-yeong's share of the assets would likely fall between 15% and 20%. The significant increase in the awarded amount reflects the court's re-evaluation of the couple's shared assets and Chey Tae-won's contributions during their marriage.