A South Korean AI chip tycoon is fighting a court ruling ordering him to pay nearly R11 billion in a divorce settlement.
Seoul, South Korea - South Korea's AI chip tycoon has appealed a court ruling ordering him to pay $666 million (about R10.77 billion) to his former wife in the country's largest-ever divorce settlement, his lawyers said Saturday.
Chey Tae-won, 65, is the chairman of the SK Group, which owns world-leading memory chipmaker SK hynix -- a pillar of South Korea's tech-led economy.
Seoul High Court in 2024 had told him to pay 1.38 trillion won to his ex-wife Roh Soh-yeong, and the sum -- equal to more than $1 billion at the exchange rate at the time of the ruling -- led local media to dub it the "divorce of the century".
Chey appealed to the Supreme Court, which told the high court to reconsider its 2024 decision and led to the tycoon's reduced divorce bill of 944 billion won ($666 million) in July this year -- still the largest divorce asset settlement ever awarded in South Korea.
