Here maximum sum subset is one of k subsets that give maximum sum e.g: arr = [10,5,3,7] and k = 2 possible ways to divide arr in k subsets is
{10,[5,3,7]},{[10,5],[3,7},{[10,5,3],7}
and
{[10,5],[3,7} is the optimal one.
Edit: it is equivalent of https://www.codechef.com/DI15R080/problems/MINMAXTF
Assume you know the answer is x which means sum of the maximum subset is equal to x. You can verify this assumption by a greedy algorithm O(n). (Traverse the array from left to right and pick items until the sum of that subset is lower than x). Now you can binary search on x and find the minimum value for x. The complexity of this algorithm is O(nlogn).