SK Group chairman ordered to pay wife $1B in divorce suit

The ruling by the Seoul High Court on Thursday marks the biggest amount of property division for divorce in the country, according to Yonhap News Agency.

His estranged wife Roh So-young is the daughter of former South Korean President Roh Tae-woo.

The also ruled that the SK chairman must also pay KRW2 billion ($1.4 billion) in alimony, KBS World reported.

The court said it recognized Roh had made significant contributions to SK Group's expansion as her father, former President Roh Tae-woo, provided what it called "intangible assistance" to the conglomerate's successful corporate management, the report said.

The chairman of South Korea's second-largest conglomerate married Roh in 1988 and have three children.

Chey holds a 17.7% stake in SK Inc., the holding company of one of the world’s biggest memory-chip firms, SK Hynix Inc.