SK chief to pay $524M of divorce settlement, contest the remainder

SK Group Chairman Chey Tae-won will relent to 700 billion won ($524 million) of the 944 billion won property division ordered by a court in his divorce case, while disputing the remaining amount at the Supreme Court, legal sources said Wednesday.

In July, the Seoul High Court ordered Chey to pay 944 billion won in property division to his former wife, Roh Soh-yeong, in a high-profile case. Chey appealed the ruling last month.

In a document submitted to the Supreme Court on Aug. 31, Chey's legal team said it would accept up to 700 billion won of the court-ordered amount.

"Since the dispute has continued for too long, we will accept a figure of up to 700 billion won in the broader interest of scaling back the dispute and swiftly resolving it," Chey's side said, adding that it would dispute any amount beyond that.

Chey initiated divorce proceedings in 2017 after admitting two years earlier that he had an extramarital partner and a child with her. Chey and Roh married in 1988 and have three children together.

The case reached the Supreme Court last year, which finalized the divorce but remanded the property settlement to the appellate court for review.

Yonhap