A South Korean court is scheduled to issue a ruling on Friday, July 24, in the high-profile divorce case between SK Group Chairman Chey Tae-won and Noh Soh-young [5].
The decision carries significant implications for the ownership and control of SK Group, one of South Korea's largest conglomerates, as the parties dispute a massive division of assets.
The legal battle, often described as the "divorce of the century," has spanned nine years [3]. The conflict began after Chey publicly disclosed the existence of a child born outside his marriage in 2015 [1]. This revelation led to the breakdown of the marriage, and Noh filed for divorce mediation in 2017 [2].
At the center of the dispute is the division of the couple's wealth. Noh Soh-young, the director of Art Center Nabi and daughter of former President Roh Tae-woo, is seeking half of the SK shares. She argues that her father's slush funds contributed to the growth of the SK empire [1].
Reports indicate the slush funds associated with former President Roh Tae-woo totaled 30 billion won [4]. Noh said, "My father's slush funds contributed to the growth of SK, and I request half of the SK shares" [1].
The upcoming ruling is a remand trial, following previous legal proceedings that failed to resolve the asset distribution. The court must determine whether the funds provided by the former president's family constitute a contribution to the formation of the marital estate, a decision that could trigger a massive shift in the corporate governance of SK Group.
Both parties have remained locked in this dispute since the initial filing, making this Friday's decision a critical juncture in the case.
“The legal battle, often described as the "divorce of the century," has spanned nine years.”
The ruling will establish a legal precedent regarding how contributions from extended family—specifically politically linked funds—impact the division of assets in corporate divorces. If the court grants Noh a significant portion of SK shares, it could dilute Chairman Chey's controlling interest and potentially invite external influence or restructuring within the SK Group's leadership.
