SK Group chief ordered to pay US$1bil in divorce case; shares in SK Inc soar

SEOUL: A South Korean court ruled SK Group chairman Chey Tae-won (pic) must pay more than US$1 billion to his estranged wife as part of their planned divorce, sending shares in the group's holding firm surging on speculation that he will have to purchase more stock to cement his control.

The Seoul High Court found Chey's shares in holding company SK Inc should be counted as part of the couple's joint property, overturning a 2022 ruling by a lower court for a much smaller amount.