SK chairman Chey Tae-won ordered to pay ex-wife $644m in divorce case
A South Korean appeals court has ordered SK Group Chairman Chey Tae-won to pay his ex-wife $644 million in a divorce settlement. The court ruled that the couple's marital assets included SK shares, though the payout will be made in cash to maintain management control.
Why it matters
The ruling is significant for corporate governance in South Korea, as it clarifies how marital assets are calculated in high-stakes business family divorces.
A South Korean appeals court on Friday ordered SK Group Chairman Chey Tae-won to pay his former wife, Roh Soh-yeong, 944 billion won (about $644 million) in cash as part of their long-running divorce property settlement, while reaffirming that Chey's SK shares formed part of the couple's marital assets.According to the Korea JoongAng Daily, the Seoul High Court reduced the settlement from the 1.38 trillion won awarded in its earlier ruling after the Supreme Court directed it to recalculate the division ratio.
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