Chey Tae-won asserts ‘error in asset division calculation’

SK Group Chairman Chey Tae-won held a press conference for the first time following the appellate court's ruling in his divorce case with Noh So-young, director of Art Center Nabi. Chey asserted that the judgment contains "clear errors." Despite bowing twice to the public, he emphasized the necessity of taking the case to the Supreme Court.

"I apologize for causing concern and trouble to the public over a personal matter," and bowed deeply for two seconds," Chey said at the press conference on Monday. "While I respect the judiciary's decision, I have decided to appeal this ruling."

Chey's legal representative brought to light a crucial mistake in the judgment. The valuation of shares in Daehan Telecom, the predecessor of SK Corporation, was incorrectly calculated by the appellate court. The court valued the shares at 100 won instead of the correct 1,000 won at the time of the death of Chey's father in 1998. This error led to an overestimation of Chey's contribution to the company's value increase, categorizing SK Corporation shares as 'self-made assets' instead of 'inherited assets '. This incorrect assumption by the court resulted in the erroneous conclusion that Noh significantly contributed to Chey's wealth accumulation.

Following the press conference, the appellate court made a correction in the judgment document, amending the valuation from 100 won to the correct 1,000 won. However, the court upheld its original decision, not swayed by the correction.

Regarding the press conference, Noh's legal representative stated, "It is undeniable that the value of SK C&C shares has significantly increased, and the conclusion remains unaffected," adding, "It is very regrettable to see attempts to distort part of the judgment to undermine the judiciary's decision."


Do-Young Kwak now@donga.com