SK Group Chairman Chey Tae-won and Noh So-young, director of Art Center Nabi [Yonhap]
SK Group Chairman Chey Tae-won and Noh So-young, director of Art Center Nabi [Yonhap]

Major international news outlets gave prominent coverage to the retrial ruling ordering SK Group Chairman Chey Tae-won to pay 944 billion won ($642 million) in asset division to Noh So-young, director of Art Center Nabi.

CNN described the divorce proceedings as "a decade-long divorce of the century" in its Friday report on the ruling. The network noted that the case — which has drawn nationwide attention — had produced yet another twist, adding that the 944 billion won award fell short of what Noh had originally sought.

CNN also highlighted the sharp rise in the corporate value of SK Group affiliates, including SK Hynix, since Chey publicly announced his intention to divorce in 2015. It noted that SK Hynix's value had surged alongside the growth of the AI industry, intensifying scrutiny over the scale of the asset division.

Reuters broke the news immediately after the ruling, reporting that "the divorce case has drawn attention to questions over the division of shares and assets belonging to the billionaire who leads South Korea's second-largest conglomerate."

AFP similarly pointed to the significant increase in SK Group's corporate value since Chey disclosed the breakdown of the marriage in 2015. The agency said one of the central issues was how much of the group's value — accumulated after the couple had in effect separated — should be reflected in the asset division.

Bloomberg said the ruling, if finalized, "could make it the most expensive divorce in South Korean history." Citing the Bloomberg Billionaires Index, it reported that Chey's net worth stands at approximately $5.6 billion.

Bloomberg identified one of the core questions in the case as "how to value a spouse's contribution to building one of South Korea's largest companies."

It also reported that Noh had initially sought a substantial portion of Chey's SK-related shares — a demand that raised the possibility of affecting his control over the group — but later changed her claim to a cash payment.


brunch@heraldcorp.com