Chey Tae-won appeals $666m South Korea divorce ruling

Lawyers for SK Group chairman Chey Tae-won said on Saturday that he has appealed a South Korean court ruling ordering him to pay 944 billion won, or $666 million, to his former wife Roh Soh-yeong in a divorce asset settlement.

The appeal sends the case back to South Korea's Supreme Court. Seoul High Court ruled in July 2026 that Roh was entitled to a cash payout worth one-third of the couple's marital assets, including Chey's SK shares, citing her family role and support for SK Group activities.

Chey, 65, chairs SK Group, which owns memory chipmaker SK hynix. His lawyers said he had filed the appeal after considering several factors and would seek to minimise any negative effect on shareholders and the group's management. Roh's legal team declined to comment to AFP.

The Seoul High Court had ordered Chey in 2024 to pay Roh 1.38 trillion won, more than $1 billion at the exchange rate at the time. Chey appealed, and the Supreme Court told the high court to reconsider that decision, leading to the lower $666 million award in July 2026. AFP described the latest award as still the largest divorce asset settlement ever made in South Korea.

The dispute has drawn attention because of Chey's control of SK Group as demand linked to artificial intelligence has boosted the value of chip assets. AFP reported that SK Group shares have more than tripled in value since December 2015, when Chey publicly disclosed an extramarital affair.

Money Today reported that Chey offered Roh a mix of shares and cash to settle the asset division in an effort to limit market impact, while Roh sought full payment in cash, which would require him to sell a large amount of shares. Money Today reported that this prompted his appeal.

Chey and Roh, the daughter of former South Korean president Roh Tae-woo, married in 1988 and have three children. They are believed to have lived apart for more than 15 years. In 2015, Chey admitted fathering a child with another partner.

The 2024 ruling had cited a 30 billion won slush fund linked to Roh Tae-woo as a factor in SK Group's growth. The Supreme Court later rejected that reasoning, saying any such money likely came from illegal bribes and should not be counted. The Supreme Court separately ordered Chey and his partner Kim Hee-young to pay Roh 2 billion won in alimony, which AFP reported Kim paid in 2024.