**Tech Titan Ordered to Pay Ex-Wife $644 Million in Divorce Settlement**
In a landmark ruling, a South Korean court has ordered Chey Tae-won, the chairman of SK Group, to pay his ex-wife, Roh Soh-yeong, a divorce settlement of 944 billion won (approximately $644 million or £483 million). This case has been dubbed the "divorce of the century" by local media and has attracted significant public and media attention.
The court's decision, which is still pending finalization, marks a significant reduction from the initial amount of 1.38 trillion won that was proposed during earlier proceedings in 2024. The couple's marriage, which lasted 35 years, ended amid controversy following revelations that Chey had fathered a child with another woman.
SK Group, one of South Korea's largest conglomerates, is known for its diverse operations, including its subsidiary SK Hynix, a major player in the semiconductor industry. SK Hynix has gained global prominence, particularly during the recent boom in artificial intelligence (AI) technologies, and recently made headlines with a record-setting debut on the US stock market.
In the earlier trial, Roh's legal team successfully argued that Chey had benefitted from financial support from her father, Roh Tae-woo, who served as South Korea's president from 1988 to 1993. The court had previously found that Chey received 30 billion won from a slush fund controlled by Roh Tae-woo in 1991, leading to the initial ruling that required Chey to pay 1.38 trillion won to his ex-wife. However, this ruling was overturned by the Supreme Court last year, which determined that the slush funds were illegally obtained and could not be included in the couple's assets.
Chey's legal representatives expressed regret over the protracted divorce proceedings, stating, "Chairman Chey Tae-won is deeply sorry that [the divorce] proceedings so far have caused concern to many people. We will share a specific response to the verdict after we closely review the ruling."
SK Group, which began as a textile company in 1953, has evolved into a powerhouse in various sectors, making it the second-largest chaebol in South Korea, following Samsung. The conglomerate is well-known among South Korean consumers, providing services through its telecom company SK Telecom and its network of SK petrol stations.
The recent surge in SK Hynix's market value has also elevated Chey's status within the business community. In a recent event, South Korean President Lee Jae Myung praised Chey and Samsung's chairman, JY Lee, as "Heroes of the Korean People" during the announcement of a significant AI investment initiative. This acknowledgment reflects the growing importance of the tech industry in South Korea's economy.
As the situation develops, the public and media will be closely monitoring the finalization of the divorce settlement and its implications for both Chey Tae-won and SK Group. The case highlights not only personal matters but also the intersection of family dynamics and corporate governance within one of the world's leading economies.