Art Center Nabi Director Roh Soh-yeong has decided not to challenge a 944 billion won ($705 million) divorce property settlement awarded by the Seoul High Court, leaving only SK Group Chairman Chey Tae-won's appeal before the Supreme Court.
Roh's lawyers did not file a cross-appeal by Tuesday's deadline, legal sources said Wednesday. The decision means she will not seek to overturn parts of the ruling concerning which assets are subject to division or how they are split.
In July, the Seoul High Court ordered Chey to pay Roh 944 billion won in cash after rehearing the case following a Supreme Court remand. The court valued the couple's divisible assets at about 2.9 trillion won, including roughly 2 trillion won in SK shares, and awarded one-third to Roh.
Chey appealed in August but later limited his challenge to 244 billion won, effectively accepting 700 billion won of the award.
His lawyers argue that Roh's one-third share remains excessive after the Supreme Court ruled last year that an alleged 30 billion won slush fund linked to her father, former President Roh Tae-woo, could not be counted among her contributions to their marital assets. The revised share is only slightly below the 35 percent awarded in the earlier appellate ruling.
Chey also disputes the court's consideration of SK share price gains after the asset valuation cutoff in determining Roh's share, as well as its inclusion of his stake in SK Siltron, acquired in 2017 after the marriage had broken down.
The Supreme Court is expected to assign a justice to review the case after receiving Roh's response to Chey's appeal brief.
yeeun@heraldcorp.com