SK Group Holds Emergency Meeting Led by Chairman Chey Tae-won to Discuss Litigation Impact and Response Measures

Choi Tae-won, Chairman of SK Group, and the CEOs of major affiliates reportedly held an emergency countermeasure meeting on the morning of the 3rd regarding the second trial results of the divorce lawsuit between Chairman Choi and Noh So-young, Director of the Art Center Nabi.

[Image source=Yonhap News]

According to industry sources, SK Group held an urgent meeting of the SUPEX Council chaired by Chairman Choi to discuss future response measures. It is reported that all CEOs of SK Group’s major affiliates participated in the meeting. The meeting reportedly discussed not only an appeal to the Supreme Court against the second trial verdict but also future response strategies.

If the second trial ruling is confirmed in the appeal, requiring a division of cash assets amounting to 1.38 trillion won, the possibility of raising funds through the sale of SK Inc. shares held by Chairman Choi or the sale of shares in the unlisted company SK Siltron has increased. The meeting is interpreted as reflecting a sense of crisis that Chairman Choi’s lawsuit has escalated from a personal matter to a group-level issue.

As a means to secure funds for the division of Chairman Choi’s assets, options include collateral loans using SK Inc. shares (17.73%) held by the group’s holding company and the sale of SK Siltron shares (29.4%) in the unlisted company. However, Chairman Choi has already borrowed 489.5 billion won using SK Inc. shares as collateral, and since external funds have been invested in SK Siltron shares, it is difficult to secure the full amount from their sale, limiting the ability to raise funds.

Meanwhile, SK Group has firmly stated that the trial results will not significantly affect business operations within the group. Chairman Choi is expected to carry out scheduled events such as the management strategy meeting (expanded management meeting) planned for this month and overseas business trips as planned.

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