SK Group chairman ordered to pay ex-wife record $645M in divorce
Fox Business • • business
Key Points:
- A South Korean court ordered SK Group Chairman Chey Tae-won to pay his former wife Roh Soh-yeong approximately $645 million in the largest divorce settlement in South Korean history.
- The payout is lower than a previous 2024 appeals court award of about $935 million but has raised concerns about how Chey will finance the payment, possibly through asset sales or borrowing.
- Chey owns a 17.9% stake in SK Inc. and has an estimated net worth of $5.4 billion; the court mandated cash payment to preserve his control over the conglomerate.
- Following the ruling, SK Inc. shares fell 3.8% and SK Hynix shares dropped 8.3%, reflecting investor concerns amid SK Group's rising profile in the AI chip market.
- The court awarded Roh one-third of the marital property, recognizing her role in preserving family wealth, and the ruling may be appealed, potentially returning the case to the Supreme Court.
