Revised ruling follows Supreme Court order to reconsider landmark case
SEOUL: A South Korean court on Friday reduced the divorce settlement that SK Group Chairman Chey Tae-won must pay to his former wife, Roh Soh-yeong, lowering the amount to 944 billion won ($644 million) after reconsidering an earlier ruling.
The Seoul High Court issued the revised decision after the Supreme Court instructed it to review its 2024 judgment, which had ordered Chey to pay 1.38 trillion won, then valued at approximately $940 million. The case has drawn widespread attention in South Korea and was widely described by local media as the country’s “divorce of the century.”
Despite the reduced award, the ruling is not yet final because either party may appeal the decision to the Supreme Court.
Court outlines basis for decision
The long-running legal dispute centres on the valuation and division of the couple’s marital assets, including Chey’s substantial shareholding in SK Group, the parent company of memory chip manufacturer SK Hynix.
In its ruling, the High Court said Roh was entitled to a cash settlement equal to one-third of the couple’s marital assets. The court concluded that while Chey’s management significantly increased the value of his shareholdings, Roh contributed to that growth through homemaking, childcare and public responsibilities connected to the business group.
Chey’s legal team said the chairman regretted the public attention generated by the case but had not yet decided whether to file another appeal.
Dispute continues over asset valuation
The Supreme Court had previously overturned part of the original ruling, rejecting the inclusion of an alleged slush fund linked to Roh’s father, former South Korean president Roh Tae-woo, in calculating the couple’s shared assets.
The court also considered the substantial increase in the value of Chey’s SK Group stake, which has risen sharply amid the artificial intelligence boom. Regulatory filings estimate his current holding to be worth about $5.5 billion.
Chey and Roh, both 65, married during Roh Tae-woo’s presidency and have three children. Separately, the Supreme Court previously ordered Chey to pay Roh 2 billion won ($1.4 million) in alimony. The divorce proceedings have continued since 2022 following the collapse of mediation efforts.
