South Korean Court Orders SK Group Chairman Chey Tae-won to Pay Ex-Wife $645 Million
A Seoul High Court ruled that South Korean billionaire and SK Group chairman, Chey Tae-won, must pay his ex-wife Roh Soh-yeong approximately $645 million in a landmark divorce settlement. This amount is the largest of its kind in South Korea's history but lower than an earlier 2024 award of about $935 million by an appeals court. The ruling has raised investor concerns over how Chey will finance the payment, with analysts suggesting he may need to sell assets or borrow against his shares. Chey owns a significant stake in SK Inc., and while experts do not expect this settlement to threaten his control of the conglomerate, stock prices for SK-related companies dropped following the ruling. The court mandated that Chey pay cash rather than transfer stocks due to their importance in maintaining corporate governance. Both parties may appeal the decision. The judgment reflects a one-third share of marital assets awarded after considering Roh's contributions during the marriage and rejecting claims about financial support from her father, former President Roh Tae-woo.
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