SK Group chairman Chey Tae-won faces a $644M divorce settlement, a case that has captivated South Korea as it unfolds in the courts.
The chairman of SK Group, Chey Tae-won, has been ordered by a South Korean court to pay his ex-wife, Roh Soh-yeong, 944 billion won (approximately $644 million) in what local media has dubbed the “divorce of the century.” This ruling comes after a lengthy deliberation over their assets, following a marriage that lasted 35 years.
This settlement is notably below the original amount of 1.38 trillion won that was determined in 2024, when the court initially ruled in favor of Roh after considering the significant contributions she made during their marriage. The marriage’s collapse was largely prompted by the revelation that Chey had a child with another woman.
Roh Soh-yeong, the daughter of former Korean president Roh Tae-woo, has been at the center of this high-profile case. The earlier trial revealed that Roh’s father provided Chey with 30 billion won from his slush fund back in 1991. However, after the Supreme Court overturned the previous verdict last year, ruling that the slush funds could not be considered part of the couple’s assets, the case’s trajectory changed dramatically.
SK Group has a significant footprint in South Korea, operating across multiple industries including telecommunications and semiconductors, with its subsidiary SK Hynix recently gaining international acclaim during the AI boom. The company is now the country’s second-largest chaebol, just behind Samsung.
The divorce’s implications have reverberated through South Korean society, reflecting the intertwining of personal and corporate wealth in cases involving conglomerate leaders. Chey’s status and the reputation of SK Group have faced intense scrutiny, particularly in light of the court’s findings and the origins of his wealth.
As he prepares to fulfill the court’s order, Chey remains a prominent figure in both business and public policy circles. Recently, he received praise from President Lee Jae Myung during an announcement of a landmark AI investment plan, highlighting the complex relationship between corporate success and personal challenges.
The impact of this verdict on both Chey and SK Group as a whole continues to unfold, leaving many in South Korea observing closely as developments emerge.
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