Choi Tae-won and Noh So-young Divorce Ruling After 34 Years of Marriage... Court Recognizes 66.5 Billion KRW Property Division and 100 Million KRW Alimony

Chairman Chey Tae-won of SK Group and Director Noh So-young of Art Center Nabi.

[Asia Economy Reporter Choi Seok-jin, Legal Affairs Specialist] Choi Tae-won, chairman of SK Group, and his wife, Noh So-young, director of Art Center Nabi, have received a divorce ruling after more than 34 years of marriage.

The Family Agreement Division 2 of the Seoul Family Court (Presiding Judge Kim Hyun-jung) held the first trial sentencing for the divorce lawsuit between Chairman Choi and Director Noh in the afternoon and ruled their divorce. The court also ordered Chairman Choi to divide assets worth 66.5 billion KRW to Director Noh and to pay 100 million KRW in alimony.

The 66.5 billion KRW asset division amount recognized by the court corresponds to approximately 310,000 shares of SK Inc., which is significantly less than the amount Director Noh initially claimed for asset division.

Chairman Choi publicly revealed the existence of an extramarital child in 2015 and announced his intention to divorce Director Noh. In July 2017, he filed for divorce mediation, officially beginning legal proceedings. After the mediation failed, formal litigation started in February 2018.

Director Noh, who opposed the divorce, filed a counterclaim against Chairman Choi in December 2019, demanding 300 million KRW in alimony and half of the 12,975,472 shares of SK Inc. held by Chairman Choi, totaling 6,487,736 shares, as part of the asset division.

Director Noh also applied for a provisional injunction to prohibit the disposal of shares until the divorce and asset division lawsuit against Chairman Choi was concluded. In April, the court partially accepted Director Noh’s application and prohibited Chairman Choi from disposing of 3.5 million shares.

In the trial, Chairman Choi’s side argued that the shares originated from SK affiliates gifted or inherited from his late father, former Chairman Choi Jong-hyun, and therefore should be considered separate property.

Separate property refers to assets that one spouse owned before marriage or acquired in their name during the marriage, which are generally not subject to division.

On the other hand, Director Noh’s side has argued that for couples married for a long time, assets received as gifts or inheritance by one spouse should be regarded as joint property.

The Supreme Court views a divorced spouse’s claim for asset division as having a supportive nature to help maintain the other party’s livelihood after divorce, but fundamentally, its main purpose is the liquidation of joint property formed through mutual cooperation during the marriage.

Furthermore, even if the assets were formed based on inherited wealth, if it is recognized that the spouse’s domestic labor and support contributed to the acquisition and maintenance of such assets, they can be subject to division.

This content was produced with the assistance of AI translation services.