SK Group Chair Chey to Sell Stake for Divorce Payout
SK Group Chairman Chey Tae-won will sell a 2.26 percent stake in SK Corp for about 700 million dollars. The share sale aims to fund a record divorce settlement ordered by a South Korean court. Chey will remain the top shareholder of the conglomerate.
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SK Group Chairman Chey Tae-won will sell a 2.26% stake in SK INC for 944 billion won ($699.5M) to fund a divorce settlement. The sale marks a major asset disposal for the head of South Korea's industrial conglomerate. Despite the divestment, Chey retains his position as the holding firm's top shareholder.
