Chey Tae-won, the chairman of South Korea’s SK Group, has been mandated to pay his ex-wife Roh So-young 1.38 trillion won ($1 billion) in the country’s largest-ever divorce settlement. The ruling by the Seoul High Court comes nearly a decade after the couple’s marriage ended in scandal due to Chey's extramarital affair and subsequent birth of a child with his mistress.
Roh So-young, daughter of former South Korean President Roh Tae-woo, was awarded a substantial share of Chey’s company assets following their 35-year marriage. This decision significantly increases the initial 66.5 billion won settlement ruled by a lower court in 2022.
Chey’s legal team has announced plans to appeal, arguing that the ruling heavily relied on Roh's version of events. Previously, a family court had denied Roh’s claim to a portion of Chey’s SK shares, but the Seoul High Court overturned this, recognizing the shares as joint assets.
The court acknowledged Roh’s significant contributions to SK Group’s growth, including her role in resolving regulatory issues and the influential support from her father. The ruling also highlighted Chey's lack of remorse and respect for monogamy, and the emotional distress caused to Roh, as factors in determining the increased settlement.
In response, Chey’s lawyers contended that Roh’s political connections had actually impeded his business. Despite the legal battle, SK Inc.’s shares saw a 9% surge following the court’s decision.
