SK Group Chairman Chey Tae-won issued an apology on Monday after a court ordered him to pay his estranged wife a record divorce settlement.

In a statement, the chairman apologized for the "distress" that his personal matter has caused to SK employees and stakeholders, adding that he will continue to do his part to ensure there's no negative impact on both SK and the South Korean economy.

The statement was made during an emergency meeting of the SK Supex Council, the group's highest decision-making body, to discuss ways to deal with the aftermath of the court ruling that resulted in the most expensive divorce suit in the country's history.

An appellate court last week ordered Chey to pay one-point-38 trillion won, or around one billion U.S. dollars, in property division to his ex-wife, Roh So-young.

Despite acknowledging the court's decision, Chey expressed disappointment with the ruling, which he said denies the history of SK, and vowed to "reveal the truth for the honor of both SK and all of its members."