Kim & Chang, the biggest law firm in Korea, suffered a blow to its reputation as its lawyers were unable to secure victories for SK Group Chairman Chey Tae-won and HYBE in their respective lawsuits on Thursday, both of which garnered significant public attention, according to industry officials, Friday.
In a historic property division settlement, the SK chairman was ordered by the Seoul High Court to increase the amount of his payment to his estranged wife, Roh So-young, to 1.38 trillion won ($1 billion) from 66.5 billion won, the amount a lower court previously ordered. The appellate court also mandated him to pay interest on arrears and 2 billion won in alimony.
Given that the daughter of late former President Roh Tae-woo demanded 2 trillion won in cash before the ruling, the appellate court’s ruling was seen as her complete victory.
An hour later, the Seoul Central District Court granted an injunction against HYBE’s attempt to dismiss Ador CEO Min Hee-jin as the head of the sublabel behind the girl band NewJeans. HYBE, the entertainment agency behind BTS, tried to sack Min, accusing her of breach of trust.
As a result, Min has been able to maintain her seat after an extraordinary meeting of Ador’s shareholders, Friday, although the parent firm ousted two of her aides and appointed three new inside directors friendly to HYBE.
The unsuccessful lawsuits by Chey and HYBE raised questions about Kim & Chang’s ability.
“Major companies tend to task Kim & Chang with complicated cases, in order to avoid blame for not spending as much as 카지노사이트킹 they can to win their lawsuits,” an industry official said. “However, its reputation does not necessarily guarantee victories.”
Amid the growing doubts about the leading law firm, Chey’s attorneys denounced the recent ruling as unfair, alleging that the judge regarded Roh’s groundless claims as facts.
In contrast, Roh’s attorneys appreciated the court for respecting the constitutional value of monogamy.
Lawyer Lee Sook-mi of Shin & Kim, another major law firm that represented the Ador CEO, also wrote on social media on Friday that the reason for her smile during Min’s press conference last month was her confidence that her client will win the lawsuit.