(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Sangjin] On June 18, the appellate court handling the divorce case between Choi Tae-won, Chairman of SK Group (63), and Noh Soo-young, Director of Art Center Nabi (63), clarified that the recent adjustment in the valuation of shares in KT Corporation and SK C&C does not directly impact the calculation of the division of assets.

The previous day, SK Group raised objections during a briefing, claiming that the appellate court's acceptance of a 1.38 trillion won division of assets could significantly decrease upon further appeal. However, the court clarified that the revision primarily corrected computational errors and did not alter the essential conclusion of the asset division. The final decision by the Supreme Court is expected to resolve remaining controversies.

In an explanatory document titled "Regarding the June 17 Decision on Judgment Correction," Seoul High Court's Family Division (led by Chief Judges Kim Si-cheol, Kim Ok-gon, and Lee Dong-hyun) expressed regret for any inconvenience caused by the subsequent correction of errors found in the calculation and documentation of the ruling.

Furthermore, the court emphasized that the adjustments made were related to intermediate factual matters concerning Choi's inheritance from his late father, Choi Jong-hyun, and Choi Tae-won's ongoing business activities. These adjustments are not expected to affect the substantive criteria for the division of assets, which will be based on the current value of SK Corporation's shares as of April 16, set at 160,000 won per share.

The court also refuted claims made by Choi Tae-won's side regarding the impact of the share value increase, which they argued as 125 times for Choi Jong-hyun and 35.6 times for Choi Tae-won. The court clarified that these assertions were erroneous and reiterated the historical valuations used in the calculations dating back to 1994 and subsequent years when SK C&C was listed in 2009.

Thus, while adjustments were made to rectify errors in the calculation process, the fundamental basis for determining the division of assets remains unchanged pending final adjudication by the Supreme Court.

 

 

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