SK group Chairman appeals $668 million divorce settlement ruling

SK Group Chairman Chey Tae-won has appealed against a South Korean court ruling ordering him to pay 944 billion won ($668.52 million) to his former wife Roh Soh-yeong in a record divorce settlement, his lawyers said.

The Seoul High Court ruled in late July that Chey should make the cash payment as a division of marital assets, while retaining his shares in SK Inc 034730.KS, the holding company of South Korea's second-largest conglomerate.

The decision reduced a 1.38 trillion won award made by an appeals court in 2024 after the Supreme Court rejected the inclusion of alleged funds from Roh's father, former President Roh Tae-woo, as a legally protected contribution.

Chey's appeal could prolong a closely watched case that has focused investor attention on Chey's control of SK Group.

The case has drawn attention because an AI boom has sharply increased the value of SK Group's semiconductor assets and, in turn, Chey's holding company stake.

SK Hynix, a major supplier of high-bandwidth memory (HBM) chips used with AI processors, has been among the chief beneficiaries of global demand for AI infrastructure.

The chipmaker listed American depositary shares on Nasdaq in July, broadening its access to global investors after a surge in its market value linked to the AI rally.

($1 = 1,412.0800 won)

-Reporting by Joyce Lee in Seoul; Additional Reporting by Hyunsu Yim in Barcelona; Editing by Alison Williams and Aidan Lewis/Reuters