SK Group Chairman Chey Tae-won Ordered To Pay Ex-wife Roh Soh-yeong $644M In Divorce Settlement

A South Korean appeals court has ordered SK Group Chairman Chey Tae-won to pay his former wife, Roh Soh-yeong, 944 billion won (approximately $644 million) in cash. This ruling, issued by the Seoul High Court, reaffirms that Chey's SK shares are considered marital assets because both spouses contributed to the growth of the company's value. While the settlement amount was reduced from a previous ruling following a Supreme Court directive, the payout remains significantly higher than the initial trial court award.

The court's decision to mandate a cash payout instead of a transfer of shares aims to protect Chey's management control over the SK Group conglomerate. The ruling acknowledges that while Chey made significant business decisions, Roh contributed to the wealth through homemaking, child-rearing, and external activities related to the group. The court also factored in the recent surge in SK's share price when calculating the final amount.

This decision follows a Supreme Court order to recalculate the asset division. While the divorce and alimony aspects were finalized last year, the property division remained under legal scrutiny. Both parties retain the right to appeal this decision, which could potentially lead the case back to the Supreme Court.

(Source：Naijaonpoint.com.ng)