SK Group chief, ex-wife fail to reach agreement in court mediation for asset division

SK Group Chairman Chey Tae-won, left, and his then wife, Roh Soh-yeong attend a mediation session in their high-profile divorce settlement case at the Seoul High Court, Monday, in this composite photo. Joint Press Corps

SK Group Chairman Chey Tae-won and his former wife, Roh Soh-yeong, failed to reach an agreement in a court mediation session for the division of their assets Monday, putting the high-profile divorce settlement case back to trial proceedings.

The two sides had entered mediation for the asset division after the Supreme Court remanded the case to the Seoul High Court last October, while confirming the divorce.

They have remained far apart on whether Chey's SK stocks should be included in the division.

The Seoul High Court decided to end mediation and hold oral arguments on June 26, as the two sides apparently failed to narrow differences.

Chey and Roh both appeared for their second mediation session earlier in the day, which marked the first time the two had faced each other in court since April 2024.

Chey's side has argued that the stocks should not be considered as they were inherited or gifted, while Roh's side has claimed that they fall under marital property.

In May 2024, the Seoul High Court ordered Chey to pay about 1.38 trillion won ($913 million) in asset division to Roh, recognizing a purported slush fund worth 30 billion won that Roh's father allegedly funneled to Chey's father.

The Supreme Court, however, ruled that even if the alleged fund had been funneled, it could not be considered in the asset division as it appeared to be illegal.

Chey holds a 17.9 percent stake in SK, which currently trades at above 600,000 won per share, compared with its price of 160,000 won on April 16, 2024, when oral arguments for the divorce suit ended at the Seoul High Court.

The case dates back to 2015, when Chey announced a divorce plan, admitting to having an extramarital lover and a child with her, and filed for a divorce settlement two years later.

Chey and Roh married in 1988 and have three children.