Divorce of the century in South Korea, manager will pay 566 million euros to his ex-wife

The South Korean media have already defined him as the “divorce of the century”. The president of the groupSKparent company of the semiconductor giantSK hynix, Chey Tae-wonwas sentenced to pay944 billion won(approximately 566 million euros) to his ex-wifeSpirit Soh-yeong.

The decision was issued bySeoul High Courtwhich reviewed the case at the request of thesupreme courtmodifying a previous ruling from 2024 that had recognized aRoh1,380 billion won (about 830 million euros). According to the judges, Roh is entitled, in the division of the couple’s assets, to a sum equivalent to a third of the group’s sharesSKheld by Chey. “The defendant’s participation appreciated substantially during the marriage,” the ruling reads. The Court further recognized that “the applicant contributed to this growth through domestic work, childcare and public activities related toSK Group“.

Marriage and separation

Chey e Rohthey were married in 1988 atBlue Housethe presidential palace ofAlonewhen the father of the bride,Spirit Tae-woowas president of theSouth Korea. The couple had three children, but have lived separated for about fifteen years. In 2015 Chey admitted to having fathered a child from an extramarital affair.

The legal battle

At the center of the long legal battle, which began in 2022, is the sharp increase in the value ofSK Groupdriven in recent years by the global boom inartificial intelligenceof whichSK hynixis one of the main players in the food sectorsemiconductors. Since the confession of Chey’s extramarital affair in 2015, the value of shares ofSK Groupit has more than tripled.

The Court’s decision

The Court explained that it took this increase into account when determining the ex-wife’s share.Rohhad already obtained, in a separate proceeding, a one-off maintenance allowance equal to2 billion won(approximately 1.2 million euros).