Ahead of SK Affiliate Report... Chey Tae-won Requests Supreme Court to Confirm Divorce
Ahead of SK Group's Fair Trade Commission affiliate reporting, it has been reported that SK Group Chairman Chey Tae-won’s side has applied to the Supreme Court for a divorce confirmation certificate with Noh So-young, director of the Art Center Nabi. If the marital relationship is maintained, there is an obligation to report affiliates under the Fair Trade Act, but without the divorce confirmation certificate, it would be necessary to incorporate corporations related to the late former President Roh Tae-woo, such as the Roh Tae-woo Foundation and the East Asian Cultural Center, into the group’s affiliates.
According to the legal and business circles on the 23rd, Chairman Chey’s side submitted an application for the confirmation certificate to the Supreme Court’s First Division (Presiding Justice Seo Kyung-hwan), which handled the appeal trial of the divorce lawsuit, on the 4th. The purpose is to first confirm that the marital relationship with Director Noh has ended.
This appears to be a decision made with the Fair Trade Commission affiliate reporting early next year in mind. Before the issuance of the divorce confirmation certificate, Chairman Chey and Director Noh are considered to be married, and under the Fair Trade Act, the spouse and relatives within the third degree of kinship of the same person (the group head) are defined as special related parties, requiring the reporting of controlling corporations as affiliates.
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Previously, amid controversies over the source of funds of foundations related to the late former President Roh Tae-woo’s family, the holding of nominee companies, and suspicions of slush funds, Chairman Chey’s side has found it difficult to grasp changes in the shareholding of the Roh family. After the appellate court’s ruling, Chairman Chey’s side had applied for the divorce confirmation certificate to the High Court, but the court at that time rejected the application.
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