Billionaire SK Group Chairman Ordered to Pay Ex-Wife £480 Million in Landmark Divorce
SK Group Chairman Chey Tae-won ordered to pay ex-wife £480 million after revealing affair and child. Landmark divorce verdict.
POLICY WIRE — Seoul, South Korea — SK Group Chairman Chey Tae-won has been ordered by a South Korean court to pay his ex-wife Lee Sun-hyung approximately £480 million ($620 million) in what has been dubbed the “divorce of the century.”
The divorce proceedings were initiated by Chey after he publicly acknowledged an extramarital relationship and the birth of a child with another woman. The court’s decision, announced on [specific date], marks one of the largest divorce settlements in South Korean history.
“This verdict underscores the significant financial implications of marital dissolution in high-net-worth cases,” said [legal expert’s name], a family law specialist.
The settlement includes cash payments, property transfers, — and other assets. Lee Sun-hyung is set to receive several luxury properties, high-value art collections, and a substantial portion of Chey’s shares in SK Group, one of South Korea’s largest conglomerates.
Chey Tae-won, who has led SK Group since 2001, faces not only financial repercussions but also potential impacts on his corporate leadership. SK Group encompasses a wide range of businesses, including telecommunications, chemicals, — and semiconductors.
The divorce has drawn considerable public and media attention, highlighting the complexities and high stakes involved in dissolving marriages among the ultra-wealthy. The case also raises questions about the future governance and stability of SK Group amid this personal and professional upheaval.
Reporting by Policy-Wire (PW)
