SK Group Chairman Chey Tae-won’s last-minute decision to appeal his 944 billion won ($666 million) property division ruling reportedly stems from a sharp disagreement over how the massive payout should be settled. Chey offered a hybrid package consisting of both cash and SK stock, but his ex-wife, Art Center Nabi Director Roh Soh-yeong, apparently rejected the offer, demanding the entire payment in cash.

Faced with a Friday midnight deadline, Chey’s legal team submitted an appeal to the Supreme Court with just one minute to spare. Chey had initially considered liquidating equity to raise the funds and conclude the nine-year legal dispute. However, selling a massive block of shares in a short period raised concerns about driving down stock prices and undermining the group's governance structure.

To bridge the gap, Chey reportedly proposed giving Roh a mix of cash and shares, offering to compensate her if the stock price dropped, while forfeiting any claim to potential gains if the price rose. Roh apparently refused the compromise, insisting on the precise execution of the appellate decision ordering a direct cash transfer. Under the current judgment, Chey faces a five percent annual delayed-payment interest rate starting the day after the verdict is finalized — adding up to roughly 130 million won per day.

Beyond buying time to secure cash and avoid daily interest penalties, Chey's legal team is expected to challenge the appellate court's valuation methods. While the court calculated Roh’s 33.3 percent share based on SK's stock price on April 16, 2024, it factored in subsequent price surges to acknowledge her contribution to the conglomerate's growth. Chey’s side plans to argue that this calculation contains legal errors, particularly given that SK shares have since fallen over 30 percent from their peak.

Although legal experts note that Supreme Court reviews are strictly limited to how the law was applied, the appeal grants Chey critical leverage and time to formulate a viable financial strategy without triggering market volatility across Korea.