SK Group's Chey to sell $700 million stake in SK Corp after divorce ruling

SK Group Chairman Chey Tae-won plans to sell a 2.26% stake in SK Corp, valued at approximately 944 billion won ($699.5 million), to finance a divorce settlement. The executive will retain his position as the largest shareholder of the South Korean conglomerate's holding firm, SK Corp, which oversees the firm's flagship chipmaker, SK Hynix.

The decision to divest came two months after a South Korean court mandated Chey to pay 944 billion won to his ex-wife, Roh Soh-yeong, in a high-profile divorce case. This record-breaking award, though lower than the 1.38 trillion won settlement ordered in 2024, has prompted Chey to explore alternative funding sources, including borrowing, asset sales, or share disposals.