A 10-year court saga, which began with the confession of infidelity by the CEO of South Korean company "SK Hynix", has ended with a record-breaking financial settlement in the country's history.
Modern.az reports that, according to the court's decision, the head of "SK Hynix", Chey Tae-won, must pay approximately $644 million (944 billion won) in compensation to his ex-wife, Roh So-young.
The decision of the Seoul High Court put an end to the 10-year legal dispute, dubbed the "divorce of the century" in the country's history.
This is considered the largest financial compensation ever awarded in a divorce case in South Korean court history.
Roh So-young is the daughter of former South Korean President Roh Tae-woo. She was married to Chey Tae-won for 34 years.
The court's decision differs significantly from the ruling issued by a lower court in 2022. At that time, Roh So-young was awarded 66.5 billion won in compensation. The approximately 2500 percent increase in "SK Hynix"'s market value in recent years, due to the growing global demand for artificial intelligence technologies, has led to the compensation also reaching a record high.
According to "Bloomberg"'s estimates, the amount to be paid is equivalent to 12 percent of Chey Tae-won's approximately $5.6 billion fortune.
The court allowed the businessman to pay the compensation in cash. This allows him to maintain control over the company without selling his shares in "SK Hynix".
Experts believe that Chey Tae-won can sell his stakes in non-core assets or take out a loan by pledging his shares to pay the compensation.
It should be noted that the breakdown of the family began in 2015 with an open letter published by Chey Tae-won in a newspaper. In that letter, he confessed to an extramarital affair and having a child from this relationship.
