The Seoul High Court ruled in late July that Chey should make the cash payment as a division of marital assets, while retaining his shares in SK Inc, the holding company of South Korea's second-largest conglomerate.
The decision reduced a 1.38 trillion won award made by an appeals court in 2024 after the Supreme Court rejected the inclusion of alleged funds from Roh's father, former President Roh Tae-woo, as a legally protected contribution.
The payout remains the largest divorce asset settlement ever awarded in South Korea, according to AFP.
Chey Tae-won, chairman of SK Group, attends semiconductor and memory chip company SK Hynix’ opening bell ceremony at the Nasdaq market on the day of their IPO in New York City, U.S., July 10, 2026. Photo by Reuters
Chey's appeal could prolong a closely watched case that has focused investor attention on Chey's control of SK Group. His wealth was assessed by the court at around 4 trillion won when it ruled in 2024, meaning the cash payout would consume close to a quarter of his fortune.
