Chey Tae-won Appeals 944 Billion Won Asset Division Ruling

Chey Tae-won, chairman of SK Group, has filed a second appeal against the ruling regarding the division of assets amounting to 944 billion won that he must pay to Noh So-young, director of the Art Center Nabi. Chey's legal team submitted the appeal on the last day of the appeal period, the 14th, stating that Chey submitted the appeal after careful consideration of various circumstances. The Seoul High Court's Family Division 1 ruled on the 24th of last month that Chey must pay Noh 944 billion won in cash in the asset division lawsuit. The court recognized Chey's SK shares as part of the asset division but chose the cash payment method instead of transferring the shares. If the ruling is finalized, Chey would have to bear a delayed interest of 5% per year, which amounts to 47.2 billion won annually. The second appeal will examine whether there was a misunderstanding of legal principles or a lack of examination in the previous ruling, and Chey's side is expected to argue that there were legal issues in the determination of the asset division ratio and amount in the previous ruling. This lawsuit began in 2017 when Chey applied for divorce mediation, and the scope and amount of asset division have changed several times. Chey and Noh married in 1988 and have three children, and Noh is the daughter of the late former President Roh Tae-woo. The second appeal has postponed the finalization of the asset division.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.