The chairman of the South Korean group SK Group, Chey Tae-won, one of the most influential businessmen in the global artificial intelligence industry, was forced by a court in Seoul to pay his ex-wife 644 million dollars, in what the local press calls «the divorce of the century», reports the Financial Times. The decision by the Seoul Court of Appeal ends a dispute that has lasted more than a decade and establishes the largest financial settlement in a divorce in the history of South Korea. Chey Tae-won heads the conglomerate SK Group, the owner of chipmaker SK Hynix, one of Nvidia’s main suppliers for HBM (High Bandwidth Memory), essential for processors used in the development of artificial intelligence. You might also be interested: The court significantly increased the compensation compared to the decision in 2022, when the businessman had been obliged to pay only 45.5 million dollars. The judges motivated the new amount by the spectacular growth of Chey’s wealth, amid the global boom in artificial intelligence. The value of SK Hynix shares has risen by about 2,500% since Chey filed for divorce in 2017, and the court ruled that the company’s performance and managerial contribution should be reflected in the division of assets. The compensation represents about 12 percent of the billionaire’s estimated $5.6 billion fortune, according to the Bloomberg Billionaires Index.
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