SK Chairman Chey to pay ex-wife 944 billion won in divorce

A South Korean appellate court on Friday ordered SK Group Chairman Chey Taewon to pay his former wife, Roh Sohyeong, 944 billion won (approximately $644 million) in a landmark divorce settlement that concludes a nine-year legal battle. The ruling by the Seoul High Court represents a significant reduction from a previous 2024 appellate judgment that had awarded Roh 1.38 trillion won.

The court determined that Chey's shares in SK Inc., the holding company of the sprawling SK Group conglomerate, constitute marital property subject to division. It attributed one-third of the divisible asset pool to Roh's contributions through housework, child-rearing, and public activities on behalf of the group during their marriage, which began in 1988. The court emphasized that this division does not transfer any share ownership to Roh, but instead requires Chey to pay her portion in cash to preserve his management control over the companies.

A central point of contention was the valuation date for Chey's SK Inc. stake. The court set the reference date as April 16, 2024, when oral arguments in the previous appeal closed, but accounted for the subsequent surge in share prices by adjusting the...