Chey Tae-won, chairman of SK Group, and Roh Soh-yeong, director of Art Center Nabi, appeared together for a mediation date on asset division. It was about 2 years and 2 months since the two faced each other in court, after the final hearing of the appellate trial in their divorce case in Apr. 2024.
The Seoul High Court Family Division 1 (Presiding Judge Lee Sang-joo) held the second mediation session on asset division between Chairman Chey and Director Roh on the afternoon of the 15th. Mediation is a procedure in which the court leads both sides to an agreement to conclude the dispute without a ruling. At the first mediation session held on the 13th of the previous month, only Director Roh appeared, and Chairman Chey sent only his legal representatives.
Chairman Chey arrived at the court at about 1:47 p.m. that day. Asked by reporters about his feelings on facing Director Roh in court for the first time in about 2 years and 2 months, he said, "I hope the mediation is concluded well so this can end quickly." Director Roh arrived at the court at about 1:39 p.m., but did not answer questions about the possibility of an agreement or the lines of compromise in the mediation process.
The core issue in this mediation is whether the SK shares held by Chairman Chey are included in the scope of asset division. Chey's side argues the shares are separate property acquired through inheritance and gifts and therefore are not subject to division. Separate property refers to assets that were owned before marriage or acquired through inheritance or gifts and are, in principle, distinguished from marital community property.
Roh's side maintains that because there were contributions during the marriage such as child-rearing, housework, and support, the SK shares should also be assessed as marital community property. If the court accepts Roh's argument, a further issue will be not only whether the shares themselves are included in the division but also to what extent the share price gains are reflected in the asset division.
Another contested point is the reference date for calculating the asset value. Chey's side is arguing it should be based on Apr. 16, 2024, when the appellate trial hearings in the divorce case concluded. In contrast, Roh's side says it should be based on the date the hearings conclude in the ongoing remanded trial.
Depending on the reference date, the scale of asset division could vary greatly. As of the date the appellate hearings concluded, SK's share price was around 160,000 won, and the value of SK shares held by Chey was estimated at about 2.07 trillion won. Since SK's share price has recently risen to around 600,000 won, if the current point is used as the basis, the valuation could differ by more than threefold.
The couple's divorce proceedings began in 2017. Chairman Chey applied for divorce mediation, but no agreement was reached, and the case moved to a formal lawsuit in Feb. 2018. In Dec. 2019, Director Roh filed a countersuit, saying she would agree to the divorce.
With both sides present for the mediation that day, discussions over the scope of assets subject to division and the valuation reference date are expected to move into full swing.