• SK Group's Chey Tae-won is ordered to pay $644 million to ex-wife Roh Soh-yeong in a divorce settlement.
• The payout is significantly lower than a previous ruling of $1.38 trillion won.
• The court determined that Chey's SK shares are marital assets, requiring a cash payment instead of stock transfer.
• Both parties retain the right to appeal the ruling.
• The case highlights the significant financial stakes involved with SK Group amid its rising AI-driven market profile.

A South Korean court has ordered SK Group Chairman Chey Tae-won to pay his former wife, Roh Soh-yeong, 944 billion won (approximately $644 million) as part of a long-running divorce settlement. This award is less than the previously mandated 1.38 trillion won determined by an appeals court in 2024, which followed extensive deliberations regarding the division of assets accumulated during their 35-year marriage, noted to be the "divorce of the century" by local media, according to Reuters, BBC, and India Times.

The South Korean Supreme Court had previously intervened, instructing the Seoul High Court to reassess the couple's assets. The latest ruling recognized that Chey's shares in SK Inc. were part of the marital estate due to both parties' contributions to building that wealth. The court ruled that, while Chey's business strategies led to increased valuations, Roh's roles in homemaking and external engagements were also significant, according to Reuters, BBC, and India Times.

In its decision, the court preferred a cash payment to Roh instead of a transfer of Chey's shares to avoid jeopardizing his management control over the conglomerate amidst its significant market activities, particularly in the AI sector. This approach reflects heightened investor confidence in Chey's management capabilities given the surging value of SK Hynix, SK Group’s semiconductor arm, according to Reuters and India Times.

The legal battle, which has captivated South Korean public attention, may not yet be concluded, as both Chey and Roh retain the option to appeal the latest ruling. Their engagement in this lengthy legal process follows a finalized divorce and a previously determined alimony award, suggesting ongoing complexity amid the evolving corporate landscape of SK Group, as noted by BBC and India Times.