{"id":112284,"date":"2024-05-31T21:40:06","date_gmt":"2024-05-31T20:40:06","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=112284"},"modified":"2024-05-31T21:40:06","modified_gmt":"2024-05-31T20:40:06","slug":"south-korean-billionaire-chey-tae-won-to-pay-1bn-in-record-divorce-ruling","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/south-korean-billionaire-chey-tae-won-to-pay-1bn-in-record-divorce-ruling\/","title":{"rendered":"South Korean billionaire Chey Tae-won to pay $1bn in record divorce ruling"},"content":{"rendered":"<div class=\"adn ads\" data-message-id=\"#msg-f:1800584221477521359\" data-legacy-message-id=\"18fcf5cf3d5747cf\">\n<div class=\"gs\">\n<div class=\"\">\n<div id=\":of\" class=\"ii gt\">\n<div id=\":oe\" class=\"a3s aiL \">\n<div dir=\"auto\">South Korean tycoon Chey Tae-won has been ordered to pay his ex-wife, Roh So-young, a record 1.38 trillion won ($1 billion; \u00a3788 million) in cash, marking the largest divorce settlement in the country\u2019s history.<\/p>\n<p>The Seoul High Court\u2019s decision on Thursday comes nearly a decade after the collapse of Chey\u2019s 35-year marriage, following the revelation that he had fathered a child with his lover.<\/p>\n<p>The court determined that Roh was entitled to a portion of Chey\u2019s company shares, a significant increase from the 66.5 billion won settlement awarded by a lower court in 2022.<\/p>\n<p>Chey Tae Won, who serves as chairman of the SK Group conglomerate, plans to appeal the decision.<\/p>\n<p>His lawyers argue that the court accepted \u201cRoh\u2019s one-sided claim as factual.\u201d The High Court\u2019s ruling reversed the lower court\u2019s decision, which had previously denied Roh\u2019s request for a portion of Chey\u2019s SK shares.<\/p>\n<p>In its verdict, the court stated that \u201cit was reasonable to rule that, as his wife, Roh played a role in increasing the value of SK Group and Chey\u2019s business activity.\u201d<\/p>\n<p>The court estimated Chey\u2019s wealth at approximately 4 trillion won, granting Roh an estimated 35% share of his assets.<\/p>\n<p>The ruling also recognized Roh\u2019s contributions in easing regulatory hurdles for Chey\u2019s business and acknowledged the support of her father, former South Korean President Roh Tae-woo, in providing a \u201cprotective shield\u201d for SK\u2019s former chairman Chey Jong-hyon.<\/p>\n<p>The court criticised Chey\u2019s conduct during the trial, stating that he had shown \u201cno signs of remorse for his foul behavior\u201d nor respect for monogamy, and considered Roh\u2019s suffering due to his extramarital affair in its judgment.<\/p>\n<p>Chey\u2019s legal team contended that Roh\u2019s political connections had been more of a disadvantage than an asset to his business endeavors.<\/p>\n<p>Despite the contentious nature of the trial, shares in SK Inc, one of the world\u2019s largest semiconductor manufacturers with interests in telecoms, chemicals, and energy, surged by 9% following the ruling.<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<\/div>\n<div class=\"WhmR8e\" data-hash=\"0\"><\/div>\n<\/div>\n<\/div>\n<div class=\"ajx\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>South Korean tycoon Chey Tae-won has been ordered to pay his ex-wife, Roh So-young, a record 1.38 trillion won ($1 billion; \u00a3788 million) in cash, marking the largest divorce settlement&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":112285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-112284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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