Cash-only demand reportedly prompted SK chairman to appeal $666 mil. divorce payout ruling
SK Group Chairman Chey Tae-won’s last-minute decision to appeal his 944 billion won ($666 million) property division ruling reportedly stems from a sharp disagreement over how the massive payout should be settled. Chey offered a hybrid package consisting of both cash and SK stock, but his ex-wife, Art Center Nabi Director Roh Soh-yeong, apparently rejected the offer, demanding the entire payment…
SK Group Chairman Chey Tae-won decided to appeal his $666 million property division ruling shortly before the deadline, according to reports. The dispute appears to center around how the substantial payout should be divided. Chey proposed a combination of cash and SK stock, but his ex-wife, Roh Soh-yeong, allegedly rejected the offer, insisting on receiving the entirety of the payment in cash.
With a Friday midnight deadline looming, Chey's legal team filed an appeal to the Supreme Court with just one minute to spare. Initially, Chey had considered liquidating equity to raise the necessary funds and settle the nine-year legal battle. However, concerns arose that selling a large block of shares in a short timeframe could negatively impact stock prices and disrupt the group's governance structure.
To resolve the issue, Chey reportedly offered Roh a mix of cash and shares, agreeing to compensate her if the stock price fell while relinquishing any potential gains if the price increased. However, Roh reportedly refused Chey's compromise, insisting on adhering to the exact terms of the appellate decision.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
