SK Group Chairman Chey Tae-won Ordered to Pay $645 Million Divorce Settlement, Korea's Largest

Published Jul 24, 10:40 AM UTC

A Seoul appeals court ordered SK Group chairman Chey Tae-won to pay his ex-wife Roh Soh-yeong approximately $645 million (KRW 944 billion) in a property division settlement, the largest divorce payout in South Korean history. The court rejected Chey's argument that his SK Inc. shares were inherited and thus exempt, ruling that Roh was entitled to one-third of the couple's joint property due to her homemaking, child-rearing, and support for SK Group's public activities. The value of Chey's stocks soared during the marriage, partly driven by the AI boom boosting SK Hynix's memory chip business. Chey's net worth is estimated at $5.3 billion. Following the ruling, SK Inc. shares fell 3.82% and SK Hynix shares dropped 8.34%. Chey's lawyers said they are considering an appeal.