South Korean rich person Chey Tae-won has been ordered to pay his ex-wife 1.38 trillion gained ($1bn; £788m) in money – the rustic’s biggest ever dissolution agreement.
It comes just about a decade upcoming Mr Chey’s marriage fell aside following the revelation he had fathered a kid together with his lover.
The Seoul Prime Court docket on Thursday dominated that Roh So-young – whom he was once married to for 35 years – was once entitled to a portion of his corporate stocks.
Legal professionals for Mr Chey – chairman of the tough SK Team conglomerate – stated he would attraction, claiming the court docket had taken “Roh’s one-sided claim as factual”.
The volume awarded to Ms Roh was once an important build up from the 66.5bn-settlement dominated by way of a decrease court docket in 2022.
That population court docket had additionally unacceptable Ms Roh’s request that she be given a portion of Mr Chey’s SK stocks.
This was once overturned on Thursday, when the Prime Court docket discovered that the stocks must be regarded as joint feature.
In its verdict, the court docket said that “it was reasonable to rule that, as his wife, Roh played a role in increasing the value of SK Group and Chey’s business activity”.
The court docket put Mr Chey’s wealth at round 4tn gained, that means Ms Roh – with whom Mr Chey had 3 kids – would rush an estimated 35%.
It additionally discovered that Ms Roh had helped diversion regulatory hurdles for Mr Chey’s industry and that her father – former South Korean President Roh Tae-woo – had “played the role of a protective shield” for SK’s ex-chairman Chey Jong-hyon.
The court docket stated Mr Chey had no longer proven “any signs of remorse for his foul behaviour in the course of the trial… nor respect for monogamy” and stated the unused agreement took under consideration Ms Roh’s struggling over her ex-husband’s extramarital affair.
Mr Chey’s attorneys argued that, instead than his ex-wife’s political connections bettering his industry, that they had been an obstacle.
Stocks in SK Inc – which is likely one of the international’s largest makers of semiconductors and likewise has pursuits in telecoms, chemical substances and effort – jumped 9% following the ruling.
