A South Korean court ordered an AI chip-manufacturing tycoon on Friday to make a trimmed-down $644 million divorce payment to his former wife, Report informs via AFP.
Chey Tae-won, 65, is the chairman of the SK Group, which owns world-leading memory chipmaker SK hynix -- a pillar of South Korea's tech-led economy.
Seoul High Court in 2024 had told him to pay 1.38 trillion won ($940 million) to his ex-wife Roh Soh-yeong, daughter of a former South Korea president.
The sum -- equal to more than $1 billion at the exchange rate at the time of the ruling -- led local media to dub it the "divorce of the century."
Chey appealed to the Supreme Court, which told the high court to reconsider its 2024 decision and led to the tycoon's reduced divorce bill of 944 billion won ($644 million).
The settlement is not yet final, however, as either side may refer it back to the Supreme Court.
The acrimonious case centres on the definition and valuation of the couple's shared assets, including Chey's lucrative stake in the SK Group.