A South Korean court has directed SK Group Chairman Chey Tae-won to pay his former wife, Roh Soh-yeong, 944 billion won (about $644 million) in one of the country’s most closely followed divorce disputes.
The latest ruling reduces an earlier award of 1.38 trillion won issued in 2024.
The decision, however, is yet to become final.
The legal battle stems from the collapse of the couple’s 35-year marriage after Chey admitted to fathering a child with another woman, bringing an end to one of South Korea’s most prominent family unions.
In a statement released after the judgment, Chey’s legal representatives expressed regret over the prolonged court proceedings and indicated they would study the verdict before deciding on their next course of action.
The dispute has largely centred on the distribution of the former couple’s wealth.
During the initial hearing, Roh’s lawyers argued that her father, former South Korean President Roh Tae-woo, had played a significant role in supporting Chey’s business expansion.
The lower court accepted claims that Roh Tae-woo had provided Chey with 30 billion won from a secret political fund in 1991, leading to the record-breaking compensation order.
However, the Supreme Court later overturned that decision, ruling that the funds had been obtained unlawfully and therefore could not be included when calculating the marital estate.
The high-profile case has attracted widespread public attention because of the influence of the families involved and the enormous financial stakes.
SK Group, established in 1953 as a textile manufacturer, has evolved into one of South Korea’s largest family-controlled conglomerates, with operations spanning telecommunications, energy, technology and manufacturing.
Its subsidiary, SK Hynix, has become a major force in the global semiconductor industry by supplying advanced memory chips to Nvidia, benefiting significantly from growing demand for artificial intelligence technologies.
The company’s rapid growth has elevated both SK Group’s market position and Chey’s corporate standing.
Earlier this year, SK Hynix became the first South Korean-listed semiconductor company to surpass a market valuation of $1 trillion.
Last month, President Lee Jae Myung praised Chey and Samsung Electronics Chairman Lee Jae-yong during the launch of a national artificial intelligence investment initiative, describing both executives as key contributors to South Korea’s technological advancement.
SK Group also strengthened its international profile after raising $26.5 billion through a New York stock market listing, the largest share offering ever completed by a foreign company in the United States.
By: Magdalene Agyeiwaa Sarpong