SK Group Chairman's $523 Million Divorce Settlement Heats Up

SK Group Chairman Chey Tae-won agrees to a $523.77 million property settlement in a high-profile divorce case ordered by a Seoul court, leaving the Supreme Court to decide on the remaining $244 billion. Chey retains his shares in SK Inc., while his ex-wife has not yet filed a cross-appeal.

SK Group Chairman Chey Tae-won has agreed to accept 700 billion won ($523.77 million) out of the 944 billion won property settlement mandated by a Seoul court in his high-profile divorce case.

The settlement narrows the dispute to about 244 billion won, which the Supreme Court is set to decide upon. The Seoul High Court previously ruled that Chey should make the cash payment to his former wife, Roh Soh-yeong, as a division of their marital assets while he retains his shares in SK Inc., South Korea's second-largest conglomerate.

In August, Chey filed an appeal against the ruling, and Roh's side has yet to file a cross-appeal, according to Yonhap News Agency. SK Group has declined to comment on the matter.