- Chey Tae-won has been ordered by a South Korean court to pay his ex-wife 944bn won ($644m) in a divorce settlement.
- This amount is significantly lower than the initial 1.38tn won that Chey was ordered to pay in 2024.
- The Seoul High Court ruled that the shares should be valued at the date of the appellate court's hearing in 2024, before AI drove prices up fivefold.
- Chey publicly declared his marriage to Roh Soh-yeong was over in 2015, following the revelation he had fathered a child with another woman.
- In 2024, the court initially ordered Chey to pay 1.38tn won after Roh's legal team argued he received significant help from her father, Roh Tae-woo, a former president.
- The Supreme Court overturned the 2024 ruling, stating that the slush funds from Roh's father could not be considered part of the couple's assets.
A South Korean court has ordered SK Group chairman Chey Tae-won to pay his ex-wife Roh Soh-yeong 944 billion won ($644 million) in a divorce settlement, a decision that reflects ongoing disputes over asset valuations amid the booming AI sector.14
The ruling, which still requires finalization, is significantly lower than the 1.38 trillion won initially sought by Roh in 2024. This case has drawn public attention due to its complex history, including revelations of Chey's extramarital affair and the involvement of Roh's father, former president Roh Tae-woo, who allegedly provided financial support to Chey.25
In 2024, the court had initially ruled that Chey should pay 1.38 trillion won, citing a 30 billion won contribution from Roh's father. However, the Supreme Court later overturned this decision, stating that the funds were illegally obtained and could not be included in the couple's assets.6
The Seoul High Court determined that the asset division ratio would grant Roh one-third of the couple's assets, while Chey retains two-thirds. The court's valuation of shares was based on their worth at the conclusion of the appellate hearing in 2024, prior to a fivefold increase in value driven by AI investments.3
When Chey announced the end of his marriage in 2015, shares of SK Hynix were trading at approximately 33,000 won (about $30). The memory chipmaker's valuation surged to $1 trillion in May, fueled by rising demand for semiconductors essential for AI-driven data centers.
Chey's legal team expressed regret over the proceedings, stating, “Chairman Chey Tae-won is deeply sorry in that [the divorce] proceedings so far have caused concern to many people.”
“The court valued shares at the 2024 hearing date, before AI demand drove SK Hynix to a $1 trillion valuation, denying Roh a larger payout. Chey's lawyers expressed regret over the public concern and said they would review the ruling before responding.”
BBC
