• South Korea's Supreme Court has overturned a $1 billion divorce settlement for Chey Tae-won.
• The decision was due to miscalculations regarding the couple's joint assets.
• Chey will still owe his ex-wife a 2 billion won alimony payment.
• The ruling has repercussions for SK Group, affecting its stock prices.
• The case has attracted widespread attention as South Korea's "divorce of the century."

On October 16, South Korea's Supreme Court partially overturned a previous ruling that mandated SK Group Chairman Chey Tae-won to pay approximately $1 billion to his estranged wife, Roh So-yeong. The Supreme Court cited a miscalculation regarding the valuation of joint assets that influenced the divorce settlement, sending the case back to the Seoul High Court for review, according to Reuters and BBC.

The divorce settlement, initially set at 1.38 trillion won by the Seoul High Court last year, had been defined as the largest in South Korean history. The court had argued that a 30 billion won slush fund from Roh's father, former president Roh Tae-woo, significantly contributed to SK Group's growth and should be recognized as part of their joint property. However, the Supreme Court ruled that these funds were sourced from bribes and thus could not be considered a legitimate asset contribution, as reported by India Times and BBC.

Despite the overturning of the large settlement, the Supreme Court upheld a separate ruling for Chey to pay 2 billion won in alimony to Roh, acknowledging his accountability for the dissolution of their 37-year marriage. Following the ruling, shares of SK Inc., a key subsidiary of SK Group, dropped by 5.4%, reflecting investor concerns regarding Chey's financial obligations, according to Reuters and India Times.