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SK Chairman Appeals Record $668M Divorce Payout
15 Aug
Summary
- SK Chairman Chey Tae-won appealed a court order for a record $668 million divorce settlement.
- The ruling involves marital asset division of SK Group's holding company shares.
- The case's value has increased due to AI boom boosting SK Hynix semiconductor assets.
SK Group Chairman Chey Tae-won is challenging a South Korean court's decision mandating a 944 billion won ($668.52 million) divorce settlement to his former wife, Roh Soh-yeong. Lawyers for Chey confirmed this appeal against the Seoul High Court's late July ruling, which ordered the cash payment as a marital asset division.
The court ruling stipulated that Chey would retain his shares in SK Inc., the conglomerate's holding company. This decision followed a previous award by an appeals court in 2024, which was later reduced by the Supreme Court after excluding alleged contributions from Roh's father, former President Roh Tae-woo.
This protracted legal battle has drawn significant investor attention, particularly regarding Chey's control over SK Group. The escalating value of SK Group's semiconductor assets, driven by the global AI boom and demand for AI infrastructure, has heightened the stakes. SK Hynix, a key supplier of AI chips, has seen its market value surge, further increasing the relevance of Chey's holding company stake in the settlement's context.
