South Korean Billionaire to pay $1bn to ex-wife in divorce settlement
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; £788 million) in cash, marking the largest divorce settlement in the country’s history. The Seoul High Court’s decision on Thursday comes nearly a decade after the collapse of Chey’s 35-year marriage, following the revelation that he had fathered a child with his lover. The court determined that Roh was entitled to a portion of Chey’s company shares, a significant increase from the 66.5 billion won settlement awarded by a lower court in 2022. Chey Tae Won, who serves as chairman of the SK Group conglomerate, plans to appeal the decision. His lawyers argue that the court accepted "Roh's one-sided claim as factual." The High Court's ruling reversed the lower court's decision, which had previously denied Roh's request for a portion of Chey's SK shares. In its verdict, the court stated that "it was reasonable to rule that, as his w...