South Korean tech giant chief ordered to pay ex-wife $640mn

The sum – equal to more than US$1 billion at the exchange rate at the time of the ruling – led local media to dub it the “divorce of the century”.

Seoul: A South Korean court on Friday ordered SK Group Chairman Chey Tae-won to pay his former wife, Roh So-yeong, 944 billion won ($640 million) in one of the country’s biggest divorce settlements.

The Seoul High Court’s ruling followed a Supreme Court order to review the case. The award was lower than the 1.38 trillion won ($940 million) settlement ordered by the same court last year. Chey was also previously ordered to pay 2 billion won ($1.3 million) in alimony. The Supreme Court had ruled that alleged slush funds provided by Roh’s father, former President Roh Tae-woo, could not be recognised as a legal contribution to SK Group’s growth.

Chey and Roh, who married in 1988 and have three children, separated after Chey filed for divorce in 2017, having acknowledged a relationship with another woman and a child with her. Either side can appeal ruling to SC.