South Korean tycoon Chey Tae-won ordered to pay estranged wife US$1 billion after divorce battle
- A court ruled that the SK Group boss must pay 1.38 trillion won in property division to Roh Soh-yeong
- The conglomerate is South Korea’s second-largest business group in terms of assets after Samsung
A South Korean court ruled on Thursday that SK Group Chairman Chey Tae-won must pay 1.38 trillion won (US$1 billion) in property division in a divorce case against his estranged wife, Yonhap news reported.
The court could not immediately be reached for confirmation.
In 2022, the Seoul Family Court ordered Chey to transfer 66.5 billion won (US$48.63 million) in cash in a division of property as part of the divorce ruling.
The court also ruled at the time that Chey’s estranged wife, Roh Soh-yeong, would receive a one-time alimony payment of 100 million won.
At that time, the court denied Roh’s request for about half of Chey’s SK Inc holdings whose affiliates include the world’s No 2 maker of memory chips SK Hynix.
Chey holds a stake of 17.5 per cent in the equity of SK Inc, regulatory filings show, with a value of about 1.9 trillion won at Wednesday’s closing price.