Economy · Breaking
South Korean businessman will pay approximately 644 million dollars to his divorced wife
- According to news, in the divorce case of Chey and Roh, who got married in 1988 and had 3 children, the court ruled that Chey should pay approximately 644 million dollars to his ex-wife.
- The case came to the fore when Chey Tae-won publicly announced in 2015 that he had an extramarital affair and a child from this relationship, in an ad he placed in a newspaper.
- While Chey announced that he wanted a divorce, stating that his marriage had ended irreversibly, Roh So-young did not initially accept the divorce.
In South Korea, the court ordered businessman Chey Tae-won to pay approximately $644 million to his ex-wife Roh So-young in the divorce case. In the case that was publicly described as the "divorce of the century" in South Korea, the decision regarding the property division between Chey Tae-won, Chairman of the Board of Directors of SK Group, one of the country's leading conglomerates, and his ex-wife Roh So-young was announced. According to news, in the divorce case of Chey and Roh, who got married in 1988 and had 3 children, the court ruled that Chey should pay approximately 644 million dollars to his ex-wife.
The case came to the fore when Chey Tae-won publicly announced in 2015 that he had an extramarital affair and a child from this relationship, in an ad he placed in a newspaper. While Chey announced that he wanted a divorce, stating that his marriage had ended irreversibly, Roh So-young did not initially accept the divorce. The legal struggle between the parties quickly turned into a multi-billion dollar property sharing case.
Roh, the daughter of former President Roh Tae-woo, also demanded that Chey's shares in SK Group be shared. During the previous trial, Chey was ordered to pay approximately $1 billion to his ex-wife, but the South Korean Supreme Court overturned the decision and sent the file to the lower court for re-evaluation. One of the important topics of the case was the date on which Chey's wealth would be calculated.
In particular, the increase in value of SK Hynix within the SK Group along with the rise in the artificial intelligence sector has also increased the discussions regarding the amount of property sharing. While Roh's lawyers wanted the current market value of Chey's shares in the holding to be taken into account, Chey's side advocated that lower-dated valuations be taken as basis. The divorce case also brought about a separate legal process regarding Kim Hee-young, with whom Chey had an extramarital affair.
In the non-pecuniary damage case filed by Roh against Kim, the court ruled that the extramarital affair caused emotional damage to Roh and ordered Kim to pay approximately 1.5 million dollars in compensation. Chey Tae-won and Roh So-young were married in a ceremony held at the Blue House in 1988, shortly after Roh Tae-woo became president. Three children were born from the marriage, which was described as the "wedding of the century" in the press of the period.
The divorce process of the couple, which started years later, turned into one of the most talked about cases in the country, pitting the family of a former president against the manager of one of South Korea's largest corporate groups.
Source: TRT Haber