Despite a surge in SK Hynix's corporate value due to the AI boom, this increase was not reflected in the asset division between Chey Tae-won, chairman of SK Group, and Noh So-young, director of the Art Center Nabi. CNN reported that the AI boom did not alter the outcome of what has been termed the 'divorce of the century.'
On July 24, the Seoul High Court ruled that Chey must pay Noh 944 billion won (approximately $644 million) in asset division. This amount falls significantly short of what Noh had requested.
The central issue in the lawsuit was the timing of the asset valuation. Noh's side argued that the valuation should be based on 2026, when the corporate value of SK Group had significantly increased due to the AI boom. SK Hynix, a subsidiary of SK Group, emerged as a major beneficiary of the soaring demand for AI semiconductors, leading to a substantial rise in the group's asset value.
However, the court set the valuation date as 2024, when the appeal process concluded, prior to the fivefold increase in SK Hynix's stock price driven by AI investments. Consequently, the rise in corporate value attributed to AI was not included in the asset division.
CNN explained that this ruling extends last year's Supreme Court decision, which rejected claims that former President Roh Tae-woo's financial support contributed to SK Group's growth, leading to the annulment of a previous asset division ruling of 1.38 trillion won. As a result, the Seoul High Court determined that Noh's share of the asset division would be one-third, while Chey would receive two-thirds.
Chey and Noh were married in 1988 at the Blue House, a ceremony dubbed 'the wedding of the century.' However, Chey announced the end of their marriage in 2015 after revealing he had a child with another woman, leading to a protracted legal battle that has lasted over a decade and is often referred to as 'the divorce of the century.'
CNN noted that when Chey disclosed the divorce in 2015, SK Hynix's stock was around 33,000 won, but the company surpassed a $1 trillion valuation in May due to explosive growth in AI semiconductor demand. Additionally, this month, it raised $26.5 billion, achieving the largest IPO by a foreign company in U.S. stock market history, highlighting the company's elevated status.
Furthermore, CNN remarked, 'The AI boom has transformed the memory semiconductor industry into one of the hottest investment sectors globally,' and emphasized that this case illustrates that the substantial increase in corporate value generated by AI does not automatically influence all legal disputes.
* This article has been translated by AI.
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