South Korea's 'Divorce of the Century' Could Have Cost $940M: SK Billionaire Now Owes His Ex-Wife $644M

One of South Korea's richest businessmen has been ordered to pay his former wife 944B won ($644M) in what local media have dubbed the country's 'divorce of the century.' The Seoul High Court ruled that SK Group Chairman Chey Tae-won must make the massive payment to his ex-wife, Roh Soh-yeong, after revisiting an earlier decision that had awarded her an even larger 1.38T won ($940M) settlement.

While the latest figure is significantly lower, the legal battle is far from over. Either side can still appeal the ruling to South Korea's Supreme Court, meaning the payout has yet to be finalised.

A High-Profile Marriage Crumbles

Chey and Roh married in 1988, and they had three children together during their marriage. Their marriage came under public scrutiny in 2015 when Chey confessed to fathering a child with another woman. Although the two had been separated for years, Chey only filed for divorce in 2017. Attempts at mediation failed, and the couple embarked on a lengthy legal battle over the division of their huge fortune.

The daughter of former South Korean president Roh Tae-woo, Roh comes from one of the country's most prominent political families. Chey is, meanwhile, chairman of SK Group, one of South Korea's largest family-owned conglomerates.

Court Awards Roh 944B Won in Landmark Property Division

The biggest issue is the division of the couple's assets, especially Chey's lucrative stake in SK Group. The payout is the largest divorce settlement ever awarded in South Korea. Chey's holdings are valued at about $5.5B, according to regulatory disclosures.

The court ultimately ordered Chey to pay Roh 944B won ($644M) in cash after finding she was entitled to roughly one-third of the marital estate. The court said Chey's shareholdings grew significantly during the marriage because of his management.

It also found Roh contributed through homemaking, raising their children, and participating in public activities related to SK Group.

Supreme Court Revised Computation

The Supreme Court overturned a portion of the lower court's reasoning, which resulted in the award being reduced. In 2024, the High Court found that 30B won from a political slush fund linked to Roh Tae-woo had helped finance SK Group's expansion in 1991. The money was deemed to be part of the couple's shared wealth, leading to a 1.38T won settlement.

The Supreme Court later ruled that the alleged funds were acquired by bribery and thus could not be legally counted as part of the division of the marital estate. However, the High Court still considered that SK Group had grown exponentially in value over time.

The court said it took into account the sharp rise in the value of Chey's shareholdings when determining the property division ratio. In a separate ruling, South Korea's Supreme Court ordered Chey to pay 2B won in alimony.

AI Boom Raises Divorce Stakes

The case has attracted worldwide attention not only for its massive divorce payout but also for SK Group's soaring value. It was first founded as a textile company in 1953 and is now South Korea's second-largest chaebol after Samsung. Its chipmaking subsidiary, SK Hynix, has become one of the world's biggest beneficiaries of the AI boom, sending SK Group's value sharply higher and increasing the value of Chey's stake.

Chey's legal team has not announced whether it will seek an appeal. However, his lawyer said that it will review the judgment before deciding on their next move. With another appeal still possible, South Korea's most closely watched divorce case may not be over.