The largest-ever divorce settlement in South Korea, totaling 1.38 trillion won, will pay in cash to Chey Tae-won’s ex-wife.

Ten years after Mr. Chey’s marriage broke down, the discovery revealed he fathered a child with his partner.

On Thursday, the Seoul High Court decided that his 35-year marriage to Roh So-young entitled her to a part of his company.

Mr. Chey’s attorneys, representing the influential SK Group conglomerate, declared that their client will file an appeal against the ruling.

They argued that the court had accepted “Roh’s one-sided claim as factual,” challenging the fairness and accuracy of the decision.

The sum granted to Ms. Roh represented a substantial rise above the 66.5 billion compensation decided upon by a subordinate court.

This significant increase reflects the court’s reassessment of her entitlements, acknowledging her contributions throughout their long marriage.

The appeal process may alter the final settlement, but currently, the court’s decision stands, marking a historic legal outcome.

This case underscores the complexities of high-stakes divorce settlements involving substantial corporate assets and long-term marriages in South Korea.

The resolution of this case remains a focal point in South Korea’s legal and business communities, influencing future divorce rulings.

Additionally, Ms. Roh’s plea to get a portion of Mr. Chey’s SK shares was denied by same family court.

On Thursday, the High Court reversed this, ruling that the shares need to be regarded as joint property.

The court found that “it was reasonable to rule that, as his wife, Roh played a role in increasing SK Group’s value.” The court deemed Roh’s involvement in the business’s growth significant, highlighting her contributions to Chey’s business activity and success.

According to the court, Mr. Chey’s wealth was believed to be over 4 trillion won, a substantial financial figure. Ms. Roh, with whom he had three children, would receive an estimated 35% of Mr. Chey’s wealth, the court decided. The court’s decision included a detailed analysis of their financial situation.

Additionally, it came to light that Ms. Roh had assisted in lowering regulatory barriers for Mr. Chey’s company, significantly aiding its growth.

Her father, former South Korean President Roh Tae-woo, had “acted as a shield” for the previous chairman of SK, Chey Jong-hyon.

This support was crucial for the business, enabling it to navigate complex regulations and maintain stability during challenging periods.

The court noted that Mr. Chey had not demonstrated “any signs of remorse for his foul behaviour in the trial proceedings.” Nor did he show respect for monogamy, further exacerbating the emotional distress experienced by Ms. Roh during their marriage.

The court took into consideration Ms. Roh’s suffering. This resulted from her ex-husband’s extramarital affair, in determining the new settlement amount. This highlighted the emotional impact on Ms. Roh, emphasizing the need for fair compensation in light of her endured hardships.

The court’s decision aimed to address the financial and emotional damages Ms. Roh suffered, ensuring a just and equitable resolution. This highlighted the emotional impact on Ms. Roh.

Mr Chey’s lawyers argued that, rather than his ex-wife’s political connections enhancing his business, they had been a disadvantage.

Shares in SK Inc – which is one of the world’s biggest makers of semiconductors and also has interests in telecoms, chemicals and energy – jumped 9% following the ruling.