SK Group Chairman Chey Tae-won said he will appeal to the Supreme Court his recent divorce ruling, which awarded a record one-point-38 trillion won, or around one billion U.S. dollars, to his estranged wife.

At a press conference on Monday, Chey said he had reached the decision due to an objective and obvious error regarding the division of property, in terms of whether his stocks are subject to the division and how much they are worth. 

Chey then denied the court's statement that SK Group has grown to become the conglomerate it is today on the back of illegal funds funneled from the Roh administration and various privileges that were provided at the time. 

Last month, an appellate court said it recognized that his wife Roh So-young had made significant contributions to SK Group's expansion as her father, former President Roh Tae-woo, provided what it called "intangible assistance" to the conglomerate's successful corporate management.  

The SK chief said he has no other choice but to appeal the court ruling, which he claimed has undermined the reputation and pride of all members of SK Group, as well as his own.

Apologizing to the public for causing concern over personal matters, Chey pledged to faithfully carry out his corporate activities to help the national economy.