Seoul, July 24 (SocialNews.XYZ) An appellate court on Friday ordered SK Group Chairman Chey Tae-won to pay 944 billion won ($644 million) in asset division to his former wife, Roh Soh-yeong, in a closely watched case stemming from their divorce.
The Seoul High Court handed down the verdict following the Supreme Court's decision in October to send the case back for review while finalizing the divorce and Chey's alimony payment of 2 billion won to Roh.
The amount in asset division was lower than the 1.38 trillion won that the court initially ordered Chey to pay in 2024, reports Yonhap news agency.
The appellate court ruled Friday that SK Inc. shares owned by Chey should be included in the division, a key point of dispute between the two sides.
The court determined that Roh was entitled to one-third of the couple's property, while the rest belonged to Chey.
Chey's lawyers said they would consider whether to appeal after reviewing the verdict, adding that Chey was apologetic for causing concern over the case.
Roh's lawyers did not respond to reporters' questions about the ruling.
The ruling came nine years after Chey initiated divorce proceedings in 2017 after admitting two years earlier to having an extramarital lover and a child with her. Chey and Roh, the daughter of late former President Roh Tae-woo, married in 1988 and have three children together.
The subsequent courtroom battle escalated all the way to the top court before returning to the appellate court.
In May 2024, the Seoul High Court ordered Chey to pay about 1.38 trillion won in asset division to Roh after recognizing a purported slush fund worth 30 billion won that Roh's father allegedly funnelled to Chey's father as part of the younger Roh's contributions in the marriage.
The Supreme Court, however, overturned the asset division ruling, saying that even if the alleged fund had been funnelled, it could not be considered in the asset division as the fund itself appeared to have been illegal.
After the case returned to the appellate court, the two sides failed to narrow differences, including on whether Chey's SK Inc. stocks should be included in the division.
Chey argued that the stocks are separate property acquired through inheritance or gifts, while Roh has contended that they fall under joint property, citing her child-rearing and household contributions.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz