Why This Billionaire Was Ordered to Pay Ex-Spouse $1 Billion in Historic Divorce Settlement

South Korea has recorded its greatest divorce settlement in historical past after a courtroom ordered billionaire Chey Tae-won to pay his ex-wife, Roh So-young, a whopping 1.38 trillion received (about $1 billion).

A Excessive Courtroom in Seoul, Korea’s capital metropolis, had on Thursday dominated that Roh is entitled to a large portion of her ex-husband’s enterprise empire, SK Group, as a result of she helped construct it.

The couple’s 35-year-old marriage ended after the billionaire had an affair with one other girl who had a toddler for him.

“It was affordable to rule that, as his spouse, Roh performed a task in growing the worth of SK Group and Chey’s enterprise exercise”, the courtroom dominated.

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The courtroom mentioned Roh, who can be the daughter of a former South Korean President, Roh Tae-woo, helped SK Group navigate by means of regulatory challenges that might have hindered the corporate’s progress.

The ex-president was additionally mentioned to have “performed the function of a protecting defend” for SK’s ex-chairman Chey Jong-hyon.

Nevertheless, the billionaire’s lawyer mentioned that the daddy’s political affect was extra dangerous to his enterprise than being a bonus.

The judges additionally criticised Chey for his extramarital affair and his lack of regret through the trial.

After the ruling, shares in SK Inc., a key firm inside SK Group, jumped 9%.

SK group is without doubt one of the world’s greatest makers of semiconductors, with pursuits in telecoms, chemical compounds, and power.