South Korean Court Orders SK Group Chairman Chey Tae-won to Pay Ex-Wife £506 Million

Seoul's High Court has ordered Chey Tae-won, chairman of South Korean conglomerate SK Group, to pay his former wife, Roh Soh-yeong, a settlement totalling £506 million (KRW#1.38 trillion) in cash, alongside £1.5 million (KRW#2 billion) in alimony. This judgement, delivered on Thursday, represents a substantial increase from a 2022 ruling that awarded Roh Soh-yeong KRW#66.5 billion in cash and KRW#100 million in alimony.

The court's decision indicated that Roh Soh-yeong had contributed significantly to Chey Tae-won's wealth accumulation and the growth of SK Group, particularly during a period when the company navigated critical business expansions. The panel specifically cited Roh's father, former President Roh Tae-woo, as a 'shelter' for Chey's business activities, implying that political connections facilitated the conglomerate's earlier success.

This case has garnered considerable public attention in South Korea, primarily due to the vast sums involved and the prominence of the individuals. SK Group, a major player in the global semiconductor, telecommunications, and petrochemical industries, stands as one of the country's largest chaebols.

Chey Tae-won initiated divorce proceedings in 2017 after publicly acknowledging a child born outside of his marriage to Roh Soh-yeong. The couple, who married in 1988, have three adult children together. Roh Soh-yeong, who manages the Art Centre Nabi gallery, stated in a social media post that she believes the court 'recognised the history and role' of their marriage.