SK chairman agrees to pay $524.3 mil. in property division in divorce case

SK Chairman Chey Tae-won, who appealed a high court retrial ruling ordering him to pay 944 billion won ($706.6 million) in property division to his ex-wife, agreed to pay the 700 billion won ($524.3 million) portion of the ruling and filed to contest only the remaining 244 billion won in the appeal. According to sources on Wednesday, Chey’s legal representatives filed an application with the Seoul High Court on Aug. 31 to amend the scope of his appeal. In the filing, Chey’s side reduced the scope of the appeal to 244 billion won, saying it decided to accept 700 billion won “for the greater cause of bringing the prolonged legal battle to a prompt resolution.” It continued that the remaining amount has issues in legal interpretation that should still be contested. The renewed appeal is expected to focus on whether Chey’s SK Group shares should be included in the marital property subject to division and whether there were legal errors in how the division ratio and amount were calculated. The Supreme Court will look into these factors within the scope of the 244 billion won, Since