A South Korean appeals court ordered SK Group Chairman Chey Tae-won to pay 944 billion won ($644 million) to his ex-wife, Roh Soh-yeong, in a fresh ruling on what locals call the "divorce of the century".
While $644 million sounds like an immense payout, it actually marks a massive discount from the previous 1.38 trillion won ($940 million) judgment handed down in 2024.
If you've been following this decade-long corporate family feud, the shift in numbers reveals a complex legal battle over corporate governance, political corruption, and the explosive rise of artificial intelligence memory chips.
Here's what really went down in the courtroom and why this case matters far beyond executive marriage disputes.
The Real Numbers Behind the Settlement
The Seoul High Court's family division adjusted the split, granting Roh a one-third share of the marital assets while assigning Chey two-thirds.
Crucially, the court didn't hand over any actual shares in SK Inc., the conglomerate holding company that controls chipmaking giant SK Hynix.
Instead, Chey has to pay Roh entirely in cash.
2022 District Court Ruling: 66.5 Billion Won (~$48 Million)
May 2024 High Court Ruling: 1.38 Trillion Won (~$940 Million)
October 2025 Supreme Court: Remanded for Recalculation
July 2026 High Court Retrial: 944 Billion Won (~$644 Million)
The decision to force a cash payment rather than a direct stock distribution keeps SK Group's ownership structure intact. Chey retains his entire equity stake, preventing a messy fight over board seats or corporate strategy at a company that manufactures crucial high-bandwidth memory (HBM) chips for Nvidia.
Why the Payout Was Trimmed by $296 Million
To understand why the court slashed nearly $300 million off the earlier award, you have to look at two key factors: a 1990s presidential slush fund and the timing of SK Hynix's AI boom.
In the May 2024 ruling, the court included a controversial 30 billion won fund linked to Roh's father, former South Korean President Roh Tae-woo. The judges back then claimed the money poured into SK during the late 1980s and early 1990s, helping build the conglomerate into a tech powerhouse. Because of that perceived political boost, the court granted Roh a huge 35 percent cut of the estate.
The Supreme Court stepped in and broke that logic.
Supreme Court justices ruled that even if presidential funds reached SK, illicit slush funds and illegal bribe money can't be legally recognized as a protected spousal contribution in marital asset division. That forced the appeals court to recalculate the numbers from scratch without counting the late president's political money.
The second clash was over SK Hynix's valuation.
Roh's legal team argued that her payout should reflect the massive AI stock rally that drove SK Group's value way up. SK Hynix shares jumped as tech giants scrambled for memory chips. Roh wanted the evaluation dated closer to the present day, which would have pushed her share into billions of dollars.
The court declined. They fixed the valuation baseline to April 16, 2024—the date oral arguments wrapped up in the initial appeal. While the judges acknowledged that the recent stock surge happened partly under Chey's management, they factored that growth into the division ratio rather than expanding the total asset pool itself.
Why SK Shares Were Counted as Marital Property
Despite cutting the dollar total, the court made a massive point of keeping Chey's SK shares inside the divisible marital estate.
In South Korean divorce cases, inherited assets or corporate stakes held in one spouse's name are often classified as "separate property" and left untouched.
The court rejected that argument here.
The judges emphasized that while Chey ran the business, Roh contributed to the company's growth through homemaking, raising their three children, and performing public-facing duties as the wife of the chairman for over three decades.
That principle sets a strong precedent across South Korean family law: even if a tycoon holds shares under his own name, a long-term spouse's indirect contributions can transform those corporate assets into joint marital property.
How This Impacts SK Group and the AI Memory Market
For tech investors, the main concern wasn't the marital drama—it was corporate control.
If the court had awarded stock directly to Roh, Chey's vote margin in SK Inc. would have been severely diluted. That scenario threatened to trigger a proxy war or open the door for hostile takeover bids right when SK Hynix is racing to supply AI hardware globally.
By ordering a pure cash settlement, the court protected Chey's management authority.
Chey doesn't have to sell off his voting shares on the open market. He'll likely use personal loans, dividend income, or pledges against non-voting assets to raise the 944 billion won. That guarantees leadership stability at SK Group while freeing up executive focus to concentrate on chip production.
What Happens Next
This battle isn't necessarily over yet.
Because both sides have the right to appeal back to the Supreme Court, either Chey or Roh could push for another review.
If you're watching high-stakes corporate disputes or high-net-worth estate planning, here are the practical takeaways to keep in mind:
- Separate property isn't untouchable. Long marriages blur the lines between personal corporate holdings and joint assets, especially when a spouse handles domestic or public operations.
- Illicit funds carry no legal weight in civil asset division. Courts won't reward historical political influence or off-the-books capital when dividing wealth.
- Control stays with cash settlements. Family courts prefer to avoid disrupting major public companies, favoring cash payouts to protect corporate governance.
Keep an eye on whether either party files a final appeal before this landmark ruling officially closes.
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