South Korea’s SK Group chief ordered to pay ex-wife US$644 million in record divorce case

A South Korean court has ordered SK Group Chairman Chey Tae-won to pay his former wife, Roh Soh-yeong, 944 billion won (approximately US$644 million) in a divorce-related property division case. This ruling, issued by the Seoul High Court, is notable for being lower than a previous award of 1.38 trillion won, which had faced scrutiny regarding Chey's stake in the group’s holding company. If finalized, this ruling would mark the most expensive divorce settlement in South Korean history. Chey Tae-won is recognized as a tech billionaire, with an estimated net worth of about US$5.6 billion, according to the Bloomberg Billionaires Index. The divorce case has captured significant public attention in South Korea, being referred to as the "divorce of the century" by various media outlets. The high-profile nature of the case stems from Chey’s position as the chairman of one of the country’s largest conglomerates, SK Group, which is involved in various sectors including telecommunications and energy. The ruling has implications not only for the individuals involved but also for the broader context of high-value divorce settlements in South Korea. The case highlights the complexities and challenges associated with asset division among wealthy individuals, particularly in cases involving significant corporate holdings. The public and media interest in the case reflects the societal implications of wealth and marital dissolution in contemporary South Korean culture.