South Korean Billionaire Ordered to Pay Ex-Wife $570 Million in 'Divorce of the Century'

A South Korean court has ordered chip billionaire Chey Tae-won, chairman of the SK Group, to pay his ex-wife, Roh So-yeong, 944 billion won (approximately $570 million) in their protracted divorce settlement. The ruling marks a significant development in a case widely referred to as the "divorce of the century" in South Korea.

The couple married in 1988, a union seen as a symbolic alliance between the political elite and powerful business families that dominated the nation's economy. Roh's father, Roh Tae-woo, had just become president, ushering in a period of transition after military rule. The marriage produced three children, but faced severe strain when Chey admitted in 2015 to having a relationship with another woman, with whom he also had a child.

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The 'divorce of the century'.

Roh contended that her family's political connections and financial backing were instrumental in the growth of Chey's business empire, particularly SK Hynix, a leading chip manufacturer whose value has soared with the global rise of artificial intelligence. She claimed her father invested tens of millions into the conglomerate. Chey, however, argued that his wealth was accumulated primarily after their separation.

The court appears to have largely sided with Roh, suggesting her contribution was significant to the SK Group's success. This ruling brings renewed attention to the complex relationship between South Korea's political establishment and its powerful family-controlled conglomerates, known as 'chaebols.' These entities, including SK Group, form a substantial part of the nation's stock market value and have long faced criticism for their close ties to power.

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The marriage of the century.