Chairman Chey Tae-won of SK Group has filed an appeal with the Supreme Court in South Korea, contesting an appellate court ruling ordering him to pay 944 billion won in property division to art center director Noh Soh-yeong, setting the stage for a new high court review.
The high-stakes legal battle between SK Group Chairman Chey Tae-won and Art Center Nabi Director Noh Soh-yeong has returned to South Korea’s highest court. Chey’s legal team submitted a re-appeal to the Supreme Court, challenging a recent appellate ruling that ordered a massive cash payout to his estranged spouse.
Supreme Court Challenge Filed on the Final Deadline
The appeal filing arrived late in the evening on the final statutory deadline. According to legal representatives, the defense team weighed various factors before deciding to contest the lower court’s decision, aiming to protect corporate interests while pursuing further legal review.
Chairman Chey considered various circumstances and ultimately filed the appeal after deep deliberation. Chey Tae-won’s legal representation, via Yna.co.kr and Donga.com
The legal team added that the defense would proceed with a clear objective to minimize negative impacts on shareholders and group management throughout the forthcoming proceedings.
Disputed Asset Calculations and Financial Stakes
At the center of the dispute is a financial settlement ordered by the Seoul High Court’s family division, which reviewed the couple’s approximately 2.9 trillion won in joint marital assets. The court determined that Noh’s rightful share amounted to one-third, or 33.3 percent, translating to 967 billion won before accounting for her personal assets.
After subtracting 23 billion won in personal holdings belonging to Noh, the court set the final cash payout obligation at 944 billion won. While an earlier appellate decision had weighed a 35 percent division rate, the high court adjusted the figure slightly downward to 33.3 percent to account for stock price fluctuations.
Legal Strategy, Delays, and Accruing Interest Pressures
Legal analysts following the high-profile divorce proceedings suggest that the latest re-appeal may serve to test legal interpretations regarding asset scale calculations and proportion sizing. Because the Supreme Court functions primarily as a court of law rather than a fact-finding tribunal, defense arguments are expected to focus strictly on legal misinterpretations by the lower court.
However, industry observers also note pragmatic financial incentives behind the procedural timing. If the high court ruling had achieved finality, Chey would face statutory late-payment interest running at five percent annually on the unpaid balance. Legal commentators point out that the daily interest burden amounts to roughly 130 million won, creating a strong financial incentive to utilize every available mechanism to secure time and defer immediate execution.
A Decade-Long Legal Saga Rooted in High Society
The current Supreme Court filing marks another chapter in a domestic conflict spanning nearly a decade.
Public exposure of the marital rift arrived in 2015 when Chey published a letter revealing the existence of a child born outside the marriage. In the published correspondence, Chey noted that he and Noh had lived with a deep divide for over a decade. Formal legal dissolution proceedings began in 2017 when Chey filed for divorce mediation, which ultimately failed and shifted into formal litigation.
What Lies Ahead in the Supreme Court Review
Given that the Supreme Court already remanded the case once last October—ruling that alleged slush funds from the former president could not be factored into Noh’s contribution calculation—legal experts consider it unlikely that the core outcome will radically invert. The upcoming proceedings will test whether the lower court correctly applied the high court’s prior legal instructions when recalculating the historic financial settlement.
