Chey Tae-won, Roh So-young asset division case nears final appeal deadline

A crucial deadline looms on July 14 for the high-stakes divorce and asset division case involving Chey Tae-won, chairman of the SK Group, and his wife Roh So-young, director of the Art Center Nabi. Both parties have until midnight on that date to file a final appeal, which would determine whether the appellate court's decision stands or if the case proceeds to another Supreme Court review.

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If both Chey Tae-won and Roh So-young do not file a final appeal by midnight on July 14, the appellate court's ruling ordering Chey to pay Roh 944 billion won will be finalized.

In the latest ruling, the Seoul High Court ordered Chey to pay Roh 944 billion won in cash as part of the asset division, a substantial sum that includes a 5% annual interest on delayed payments. This decision represents a significant escalation from the initial ruling, which awarded Roh 66.5 billion won in assets and 100 million won in alimony. The appellate court had initially increased the asset division to 1.38 trillion won, acknowledging Roh's contributions and the alleged slush funds of her father, former President Roh Tae-woo, which were reportedly used to grow the SK Group.

However, the Supreme Court intervened last October, remanding the case back to the appellate court. The Supreme Court ruled that the 30 billion won in alleged slush funds, being illegally obtained, could not be considered for asset division. Despite this exclusion, the appellate court's recent ruling still recognized Chey's SK stock as divisible assets, calculating Roh's share at one-third, leading to the 944 billion won figure.

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The Supreme Court previously remanded the case, ruling that the 30 billion won in slush funds was not subject to asset division.

If neither Chey nor Roh files a further appeal by the July 14 deadline, the appellate court's ruling will be finalized. Should either party appeal, the case will return to the Supreme Court. Given that the Supreme Court primarily handles legal matters rather than factual re-examinations, a finalization of the appellate court's decision is likely if no significant legal errors are identified. The outcome of this protracted legal battle, which began in 2015 after Chey publicly acknowledged an extramarital child and expressed his intent to divorce, will have significant implications for both parties and the SK Group.

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The appellate court, excluding the 30 billion won, still considered Chey's SK stock as divisible assets and calculated Roh's share at one-third, resulting in the 944 billion won judgment.