Chey Tae-won, billionaire and chairman of SK Group, prepares to go away after talking throughout the Nikkei Discussion board Way forward for Asia in Tokyo, Japan, on Thursday, Could 23, 2024.
Kiyoshi Ota | Bloomberg | Getty Pictures
Shares of SK Inc., certainly one of South Korea’s greatest conglomerates, surged as a lot as 16% on Thursday after a courtroom reportedly ordered the corporate’s chairman to pay $1 billion to his spouse in a divorce lawsuit.
Chey Tae-won was informed by a Seoul courtroom to pay 1.38 trillion Korean received to his estranged spouse, Roh Soh-yeong.
Prior native studies recommended Roh was looking for round 2 trillion received as a part of a settlement and a few of Chey’s shares in SK Inc. The ultimate settlement is decrease, maybe explaining the soar in SK Inc. shares, which finally closed greater than 9% greater in Seoul.
SK Inc. was not instantly accessible for remark when contacted by CNBC.
SK Inc. is certainly one of Korea’s largest expertise conglomerates and is the holding firm for SK Hynix, one of many world’s greatest reminiscence chip corporations, in addition to for cellular community SK Telecom.
The saga started in 2015 after Chey admitted to having a baby out of wedlock. He filed for divorce in opposition to Roh in 2017.
In the course of the long-running authorized battle, Roh’s legal professionals reportedly argued that her late father, the previous South Korean President Roh Tae-woo, gave Chey cash within the Nineties, which was used to develop the SK Inc. enterprise. Chey’s authorized crew mentioned that no such funding existed.
