Cash-only demand reportedly prompted SK chairman to appeal $666 mil. divorce payout ruling

SK Group Chairman Chey Tae-won requested a Supreme Court review of his 944 billion won ($666 million) property division ruling, according to reports. The decision to appeal was reportedly driven by a significant dispute concerning the distribution of the payment. Chey initially proposed a combined arrangement of cash and SK stock, but his ex-wife, Art Center Nabi Director Roh Soh-yeong, was reportedly unwilling to accept the offer, insisting on receiving the entire amount in cash.

With a Friday midnight deadline looming, Chey's legal team submitted an appeal to the Supreme Court with only one minute to spare. Chey had previously contemplated selling equity to accumulate the necessary funds and finalize the nine-year legal battle. However, the rapid sale of a large stock block raised concerns about potential price drops and disruptions to SK Group's governance system.

As a compromise, Chey reportedly suggested providing Roh with a mix of cash and shares, agreeing to make up for any stock price declines, while relinquishing any right to potential gains if the stock price increased. However, Roh reportedly rejected the suggested compromise, insisting on the strict adherence to the appellate ruling.