SK Group Chairman Chey Tae-won Ordered to Pay Ex-Wife Roh So-young $1.38 Billion in Divorce

SK Group Chairman Chey Tae-won must pay his estranged wife, Roh So-young, a substantial sum of $1.38 billion (£1.08 billion) as part of their divorce settlement, the Seoul High Court ruled on Thursday. This judgement marks the largest divorce payout in South Korean history, overturning a previous lower court decision from 2022 that awarded Roh merely $50 million.

The High Court's decision cited Roh's "contribution to increasing the value of SK Group" as a primary factor in the elevated settlement. The court determined that Roh's family connections, specifically her father being former President Roh Tae-woo, significantly benefited Chey in expanding his business interests. The ruling noted that Chey had received approximately $250 million from his father-in-law's slush fund, which was subsequently used for corporate acquisitions.

The court's revised ruling also increases the monthly alimony payment to Roh from $1.3 million to $14,000. Chey Tae-won, whose personal wealth is estimated at $2 billion by Forbes, separated from Roh in 2017 after admitting to having a child with another woman. The couple married in 1988, having met while studying in Chicago, USA. Chey is expected to appeal this latest ruling.