SK chairman ordered to pay $644 mil. in property division retrial

SK Group Chairman Chey Tae-won, left, and his ex-wife Roh Soh-yeong

SK Group Chairman Chey Tae-won was ordered Friday to pay 944 billion won ($644 million) to his former wife, Roh Soh-yeong, in a retrial of their high-profile property division lawsuit.

The Seoul High Court handed down the ruling during a hearing, concluding the latest round of the long-running dispute over the division of the couple's marital assets.

The court did not explain the reasoning behind its decision, but the size of the award indicates it likely treated Chey's stake in SK Inc., the group's holding company, as property subject to division.

The ruling came after the Supreme Court last year overturned and remanded an earlier appellate decision. The top court found that even if funds linked to Roh's father, former President Roh Tae-woo, had flowed into SK Group, they should not be recognized as a contribution to the couple's marital assets.