SK Group Chairman Chey Tae won will accept 700 billion won ($523.77 million) of the 944 billion won property settlement awarded to his former wife, while challenging the remaining 244 billion won at South Korea’s Supreme Court, Yonhap News Agency reported on Wednesday.
The decision narrows the legal dispute over the country’s largest divorce property settlement, which has attracted significant attention because of its potential impact on Chey’s control of SK Group.
Chey had previously appealed the Seoul High Court ruling ordering him to pay the full 944 billion won. The Supreme Court will now determine the outcome of the disputed portion.
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