Chey Tae-won, Noh So-young divorce asset split to be decided July 24

The retrial on what has been called the "divorce of the century" — the asset-division dispute between SK Group Chairman Chey Tae-won and Noh So-young, director of Art Center Nabi — is set to conclude July 24.

Seoul High Court's Family Division 1, presided over by Chief Judge Lee Sang-ju, held the second hearing of the retrial on Friday. The court closed arguments and set the ruling date for 2 p.m. on July 24.

Although neither party was required to attend, both Chey and Noh appeared in person at the courthouse Friday.

Chey arrived at around 9:51 a.m. When reporters asked whether he was contesting the case on the premise that his SK shares had been recognized as jointly held marital assets subject to division, he said only, "I will finish well and come out." Noh declined to answer questions, including whether any progress had been made toward a settlement.

Both left the courthouse without comment after the hearing concluded.

Friday's hearing was the first formal proceeding since mediation fell through on June 15. Both sides are understood to have presented arguments favorable to their respective positions on the scale and method of asset division. Chey and Noh are also said to have spoken directly during the hearing.

The court is expected to deliver a ruling in line with the Supreme Court's decision last October. Either party may appeal back to the Supreme Court if they contest the outcome.

The asset-division amounts had differed sharply between the first and second trials.

In December 2022, the first-instance court ordered Chey to pay Noh 100 million won ($64,700) in consolation money and 66.5 billion won in asset division. The court classified Chey's SK shares as his own separate property — assets held before the marriage and therefore excluded from division — and rejected Noh's claim of contribution to them.

The second-instance court, however, ruled in May 2024 that most of the evidence related to 30 billion won in slush funds allegedly held by former President Roh Tae-woo was credible, and set the asset-division amount at 1.38 trillion won — roughly 20 times the first-instance figure.

The Supreme Court overturned the asset-division portion of that ruling last October, finding that the former president's slush funds could not be attributed to Noh's contribution to the marriage, and remanded the case to Seoul High Court. The 2 billion won consolation payment was confirmed as final by the Supreme Court.