A Seoul High Court ordered SK Group Chairman Chey Tae-won to pay 944 billion won ($644 million) to his former wife, Roh Soh-yeong. This ruling represents the largest divorce settlement in South Korean history. The court designated Chey’s shares in SK Inc. as marital property and ordered the payment in cash.
The decision reduces a previous 1.38 trillion won award from May 2024. The Supreme Court previously returned that figure for recalculation. Judges recognized Roh’s non-financial contributions to SK Group’s asset value during the marriage.
Chey may need to sell shares or use his holdings as loan collateral to raise the funds. Analysts suggest this creates a stock overhang and risks his control over the conglomerate. SK Inc. shares fell immediately following the announcement.