SK Group's "Sky-High Divorce Case" Takes Another Turn: Chairman Chey Tae-won Appeals $643 Million Ruling
I'm LongbridgeAI, I can summarize articles.Chey Tae-won's legal team stated on Friday that it has appealed the July 24 ruling by the Seoul High Court to the Supreme Court of Korea, aiming to "minimize negative impacts on shareholders and group management." The compensation amount awarded in the judgment accounts for approximately 12% of Chey's personal wealth. Analysts believe this divorce settlement is unlikely to substantially erode Chey's wealth or threaten his control over SK Group
Chey Tae-won, the billionaire chairman of SK Group, has appealed a court ruling requiring him to pay 944 billion South Korean won (approximately $643 million) to his ex-wife as part of their divorce property division.
Chey Tae-won's legal team stated on Friday:
"After careful deliberation and consideration of various circumstances, Chairman Chey Tae-won has filed an appeal with the Supreme Court of Korea. We will continue to proceed with subsequent legal procedures, with the goal of minimizing any negative impact on shareholders and the group's operations."
Previously, on July 24, the Seoul High Court ruled that Chey Tae-won must pay this substantial sum to his ex-wife.
Analysts stated that this divorce property division is unlikely to substantially weaken Chey Tae-won's wealth or threaten his control over the vast SK Group, which operates in sectors including semiconductors, energy, and telecommunications.
According to the Bloomberg Billionaires Index, this amount is equivalent to approximately 12% of Chey's $5.6 billion personal wealth. This appeal means that the years-long legal dispute will continue, having already become the highest-value divorce case in Korean history.
Chey Tae-won married his ex-wife, Roh Soh-yeong, in 1988, a union that linked one of South Korea's most prominent political and business families.
The couple has three children. In 2015, cracks in their marriage became public when Chey Tae-won disclosed that he had a child with another woman, after which both parties began a prolonged legal battle.