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SK Group chairman ordered to pay $644m in divorce settlement
The award was set at 944 billion won and is below the 1.38 trillion won initially ordered after an earlier trial.
A South Korean court has ordered SK Group chairman Chey Tae-won to pay his ex-wife 944 billion won, about $644 million, in a divorce settlement that local media has dubbed the “divorce of the century,” according to BBC Business.
The payout is still subject to finalization and comes after the court previously instructed Chey to pay 1.38 trillion won in 2024. The more recent decision places the award below that earlier amount.
BBC Business reports the case has centered on how assets were divided following the dissolution of Chey’s 35-year marriage, after a revelation that he had fathered a child with another woman.
SK Group, a major South Korean chaebol, is also closely tied to the AI boom through its semiconductor unit SK Hynix. BBC Business notes SK Hynix recently debuted as SK Group’s global visibility rose, and that SK Group raised $26.5 billion in a New York share offering, the largest listing by a foreign firm in the US.