A South Korean court has delivered a landmark ruling in a highly publicized divorce case, ordering billionaire SK Group Chairman Chey Tae-won to pay his ex-wife, Roh So-yeong, a staggering $640 million in damages.
The Seoul High Court’s decision, made public on Friday, is the latest development in a long-running divorce case that has captivated the nation’s media and public attention.
The Divorce of the Century
The case, often referred to as the ‘divorce of the century,’ involves Chey and his ex-wife, Roh, who were married in 1988 and have three children together. Chey filed for divorce in 2017 after revealing he was in a relationship with another woman and had a child with her.
The high court’s ruling, which was lower than the initial 1.38 trillion won ($940 million) settlement ordered last year, took into account the value of Chey’s assets, which have increased significantly in recent months due to the global artificial intelligence boom. Shares of SK Hynix, SK’s semiconductor affiliate, have surged, contributing to Chey’s growing wealth.
However, the Supreme Court had previously ruled that funds allegedly provided by Roh’s father, former South Korean President Roh Tae-woo, could not be recognized as a legal contribution to the company’s growth. This decision was a key factor in the high court’s reduced settlement amount.
Chey’s assets now stand at a significant $640 million, a sum that reflects his substantial wealth and influence in South Korea’s business landscape. The high court’s ruling is seen as a major victory for Roh, who has been fighting for a fair share of the couple’s assets throughout the divorce proceedings.
As the case continues to unfold, it remains to be seen whether Chey or Roh will appeal the high court’s decision. The Supreme Court has the power to review the case, which could potentially lead to further changes in the settlement amount.
The high-profile divorce case has drawn widespread attention in South Korea, with many observers watching the developments closely. The ruling is also seen as a significant milestone in the country’s growing focus on AI and semiconductor initiatives, with President Lee Jae Myung set to meet with US tech leaders, including Anthropic’s Dario Amodei and Open AI’s Sam Altman, in San Francisco.
In related news, Chey is among the South Korean business leaders traveling to the United States with President Lee Jae Myung, who is expected to promote investment into South Korean AI and semiconductor initiatives. The trip is seen as a major opportunity for South Korea to strengthen its ties with the US tech industry.
Key Figures and Statistics
- SK Group Chairman Chey Tae-won ordered to pay $640 million in damages
- Initial settlement amount: 1.38 trillion won ($940 million)
- Previous alimony payment: 2 billion won ($1.3 million)
- Value of Chey’s assets: $640 million
- Shares of SK Hynix: surged due to global AI boom
As the divorce case continues to make headlines, it is clear that the stakes are high for both Chey and Roh. The ruling is a significant development in South Korea’s growing focus on AI and semiconductor initiatives, and its impact will be closely watched by observers in the tech industry.
