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Court Orders SK Chair to Pay 944 B Won

7/24/2026

43 8 Full Breakdown

Summary

Story summary

South Korea’s High Court ordered Chey Tae-won, chairman of SK Group, to pay Roh Soh-yeong 944 billion won in cash.
The award cut the 2024 judgment of 1.38 trillion won after Supreme Court rejected a 30 billion-won slush-fund claim and granted Roh one-third of Chey’s property, valuing holdings before AI surge.
The ruling caused SK Inc to fall 3.82% and SK Hynix fell 8.34%.
Parties may appeal to the Supreme Court within one week.

History

Historical Context

In December 1997 South Korea signed a memorandum of understanding with the IMF, securing a roughly $60 billion rescue package that forced chaebols to restructure debt and adopt austerity measures. The reforms followed a wave of bankruptcies that threatened sovereign default. Today, the Seoul High Court’s order for SK Group chairman Chey Tae-won to pay 944 billion won revives the 1990s drive to curb conglomerate excesses.

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Story summary

South Korea’s High Court ordered Chey Tae-won, chairman of SK Group, to pay Roh Soh-yeong 944 billion won in cash.
The award cut the 2024 judgment of 1.38 trillion won after Supreme Court rejected a 30 billion-won slush-fund claim and granted Roh one-third of Chey’s property, valuing holdings before AI surge.
The ruling caused SK Inc to fall 3.82% and SK Hynix fell 8.34%.
Parties may appeal to the Supreme Court within one week.

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