South Korea’s top court has reduced a billionaire’s divorce settlement to $644 million, keeping alive one of the country’s biggest and most closely watched legal battles over marital assets.
WEBDESK – ABDUL REHMAN SHAHEER – MEDIABITES NEWS
South Korea’s ‘Divorce of the Century’ Takes a New Turn
Court Reduces Billion-Dollar Divorce Settlement
South Korea’s judiciary has delivered a major ruling in one of the country’s most high-profile divorce cases, often described by local media as the “Divorce of the Century.” The Seoul High Court ordered SK Group Chairman Chey Tae-won to pay $644 million to his former wife, Roh Soh-yeong, reducing an earlier award of $940 million issued in 2024. However, the dispute is not yet over, as either party may appeal the latest ruling before the Supreme Court.
Long-Running Battle Over Marital Assets
The legal battle centers on the division of the couple’s extensive marital assets, particularly Chey’s valuable stake in SK Group, one of South Korea’s largest conglomerates and the parent company of SK Hynix, a global leader in memory chip manufacturing. The court ruled that Roh was entitled to approximately one-third of the couple’s shared assets, recognizing her contributions to the family’s success during their decades-long marriage.
In its judgment, the court stated that the value of Chey’s shares increased significantly during the marriage due to his business leadership, while Roh contributed by raising their children, managing the household, and participating in public activities related to SK Group. The judges concluded that these contributions justified a substantial share of the marital wealth.
Marriage, Separation, and Legal Dispute
Chey Tae-won and Roh Soh-yeong married in 1988 at Seoul’s Blue House while Roh’s father, former South Korean President Roh Tae-woo, was in office. Although the couple had reportedly lived separately for more than 15 years, their marriage drew renewed public attention in 2015 when Chey acknowledged having a child with another woman. He later filed for divorce in 2017, but mediation efforts failed, leading to lengthy court proceedings that formally began in 2022.
Case Continues to Draw National Attention
The case has become one of the most closely followed legal disputes in South Korea because of the enormous financial settlement and the prominence of both families. Legal experts believe the final outcome could influence future rulings involving the division of wealth in high-profile corporate divorce cases. Since both parties still have the right to appeal, the final chapter of South Korea’s “Divorce of the Century” has yet to be written.
