SK Group Chairman's Divorce Settlement: Significantly Reduced Payout

A South Korean court ordered SK Group Chairman Chey Tae-won to pay his ex-wife 944 billion won in a reduced divorce settlement. This follows a Supreme Court ruling rejecting claims of unauthorized funds in their marital assets. SK Group's rising international presence heightens investor interest in Chey's stake.

A South Korean court reduced the divorce settlement of SK Group Chairman Chey Tae-won, requiring him to pay 944 billion won ($640 million) to his former wife, Roh Soh-yeong. This decision comes after the Supreme Court reversed part of a previous ruling regarding unauthorized marital funds.

The high-profile case attracted attention due to Chey's significant stake in SK Group, especially with SK's rising prominence in the AI sector. SK Hynix, the conglomerate's chip-making affiliate, is a leading supplier of high-bandwidth memory chips for Nvidia, which has fueled investor interest in Chey's 17.9% stake in SK Inc.

The court included Chey's shares in the marital estate, valuing them as of April 2024, underlining the Supreme Court's precedence. Despite Chey's increased share value since then, the marital property was divided, awarding one-third to Roh and two-thirds to Chey, following a lower ratio from a previous appeal.