Chey Tae-gained, billionaire and chairman of SK Team, prepares to leave soon after speaking through the Nikkei Discussion board Upcoming of Asia in Tokyo, Japan, on Thursday, May 23, 2024.
Kiyoshi Ota | Bloomberg | Getty Photographs
Shares of SK Inc., just one of South Korea’s major conglomerates, surged as much as 16% on Thursday just after a court reportedly requested the firm’s chairman to shell out $1 billion to his spouse in a divorce lawsuit.
Chey Tae-won was advised by a Seoul court to shell out 1.38 trillion Korean won to his estranged wife, Roh Soh-yeong.
Prior community stories suggested Roh was trying to get about 2 trillion received as component of a settlement and some of Chey’s shares in SK Inc. The final settlement is lower, probably outlining the jump in SK Inc. shares, which ultimately closed more than 9% bigger in Seoul.
SK Inc. was not instantly offered for comment when contacted by CNBC.
SK Inc. is one of Korea’s major know-how conglomerates and is the keeping company for SK Hynix, one of the world’s most important memory chip corporations, as very well as for cellular community SK Telecom.
The saga commenced in 2015 just after Chey admitted to getting a little one out of wedlock. He filed for divorce from Roh in 2017.
Through the lengthy-managing lawful fight, Roh’s attorneys reportedly argued that her late father, the former South Korean President Roh Tae-woo, gave Chey cash in the 1990s, which was utilized to develop the SK Inc. company. Chey’s legal group said that no these funding existed.
