S Korea tycoon escapes paying $1bn in 'divorce of the century'

The South Korean high court has overturned a record-breaking $1 billion divorce settlement order against Chey Tae-won, the chairman of one of the country's largest conglomerates. The case was dubbed the "divorce of the century" in South Korea, as it involved a staggering sum of money. Chey's ex-wife, Kim Yoo-chul, had been awarded the massive settlement after a lower court ruled in her favor. However, the high court has now reversed the decision, allowing Chey to avoid paying the record-breaking amount. The ruling is seen as a significant victory for the business tycoon, who had argued that the original settlement was excessive and unfair. The case has sparked a wider debate in South Korea about the treatment of high-profile divorce cases, as well as the country's legal system and its ability to handle complex financial disputes. Despite the high-profile nature of the case, the court's decision ultimately prioritized Chey's interests over those of his ex-wife.