SK Group Chairman Chey Tae-won was ordered to pay his former wife, Roh Soh-yeong, $644 million in a retrial of their high-profile divorce and asset division case. This ruling, delivered by the Seoul High Court, marks the largest such award in South Korean legal history, although it is less than the $1.38 trillion initially ordered in May 2024. The court set the division ratio at one-third for Roh and two-thirds for Chey, with share values calculated as of April 16, 2024.
The case has been ongoing for over a decade, with Chey first announcing his intention to divorce Roh, the daughter of former South Korean President Roh Tae-woo, in a 2015 letter. A key point of contention was whether Chey's shares in SK Inc. should be considered divisible marital property. The court ultimately included these shares, recognizing both Chey's and Roh's contributions to their formation, maintenance, and increase in value. Roh's legal team had argued for a larger payout based on the 2026 valuation of Chey's SK Group, citing the AI boom's positive impact on SK Hynix, an SK Group subsidiary that produces in-demand chips.
The Supreme Court had previously overturned a second-instance ruling that awarded Roh $1.38 trillion, stating that a $30 billion financial contribution from Roh's father, which was presumed to be illegal presidential slush money, could not be considered in the asset division. The current ruling, while substantially lower than Roh initially sought and previous awards, still represents a significant financial obligation for Chey. Chey's legal representatives indicated they would review the ruling before deciding on an appeal, while Roh's lawyers declined to comment. The ruling is not yet final and could be appealed to the Supreme Court again.
