SK Group billionaire Chairman Chey Tae-won has formally appealed a court order requiring him to pay 944 billion Korean won (approximately $643 million) to his ex-wife as part of their divorce asset settlement.

Chey's legal team announced on Friday: "After careful deliberation and consideration of various circumstances, Chairman Chey has filed an appeal with the Supreme Court of Korea. We will continue to pursue the legal process with the goal of minimizing any negative impact on shareholders and the group's operations."

The Seoul High Court had previously ruled on July 24 that Chey must pay this substantial sum to his former spouse.

Analysts suggest the divorce settlement is unlikely to significantly weaken Chey's personal wealth or threaten his control over the sprawling SK Group, which operates across semiconductors, energy, and telecommunications sectors.

According to the Bloomberg Billionaires Index, the payment represents roughly 12% of Chey's estimated $5.6 billion personal fortune. The appeal ensures the protracted legal dispute, already the highest-value divorce case in South Korean history, will continue.

Chey married Roh Soh-yeong in 1988, a union that linked two of South Korea's most prominent political and business families. The couple has three children. Their marriage publicly fractured in 2015 when Chey disclosed he had a child with another woman, triggering a lengthy legal battle.