The Seoul High Court ordered SK Group chairman Choi Tae-won to pay 9.44 trillion won to No So-young in a divorce settlement on Friday [1].
This ruling establishes a significant precedent for the division of corporate assets in South Korea. By recognizing SK Group shares as joint marital property, the court has shifted how ownership is viewed in high-profile divorce cases involving conglomerate leaders.
Seoul High Court Family Division 1 issued the remand-retrial judgment on July 24 [1]. The court said that Choi must pay No, the director of the Art Center NABI, the sum of 9.44 trillion won [1]. This amount represents a reduction from an earlier claim of approximately 13 trillion won [2].
Beyond the principal sum, the court said that a five percent annual interest rate will accrue on the unpaid balance [2]. This interest will be calculated from the day after the judgment becomes final until the full amount is paid [2].
The legal battle centered on whether the wealth accumulated by the SK Group was the result of individual effort or joint marital contribution. The court's decision to divide the assets acknowledges the role of the spouse in the growth of the family's corporate holdings, a move that impacts the financial structure of one of South Korea's largest business groups.
Choi and No have been embroiled in a protracted legal dispute over the division of their assets. The current ruling follows a series of appeals and a remand from the higher court, which sought a more precise calculation of the marital property [1].
“The court recognized SK Group shares as joint marital property, making them subject to division.”
This judgment signals a shift in the South Korean judiciary's approach to 'chaebol' wealth, moving away from protecting the concentrated control of corporate founders and toward recognizing the contributions of spouses. The massive scale of the settlement may force a restructuring of Choi's personal holdings or affect the governance of SK Group shares.
