Chey Tae-won, billionaire and chairman of SK Group, prepares to depart after talking on the Nikkei Discussion board Way forward for Asia in Tokyo, Japan, on Thursday, Might 23, 2024.
Kiyoshi Ota | Bloomberg | Getty Photographs
Shares of SK Inc., one in all South Korea’s largest conglomerates, rose 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 case.
Chey Tae-won was advised by a Seoul courtroom to pay 1.38 trillion Korean gained to his estranged spouse, Roh Soh-yeong.
Earlier native stories instructed Roh was in search of about 2 trillion gained as a part of a settlement and a few of Chey’s shares in SK Inc. The ultimate settlement is decrease, which can clarify the soar in SK Inc.’s inventory. declares, which finally closed greater than 9% greater in Seoul.
SK Inc. was not instantly accessible for remark when contacted by CNBC.
SK Inc. is one in all Korea’s largest know-how conglomerates and is the holding firm of SK Hynix, one of many world’s largest reminiscence chip corporations, and cellular community SK Telecom.
The saga started in 2015 after Chey admitted to having a baby out of wedlock. He filed for divorce from Roh in 2017.
In the course of the prolonged authorized battle, Roh’s attorneys reportedly argued that her late father, former South Korean President Roh Tae-woo, had given Chey cash within the Nineties, which was used to help SK Inc.’s operations. to develop. Chey’s authorized staff mentioned no such financing existed.
