Chey Tae-won Sells SK Shares to Fund Divorce Settlement
SK Group Chairman Chey Tae-won has sold about 944.0 billion won (about $704 million) worth of shares in SK Inc. The move appears to be aimed at preparing the asset division payment stemming from his divorce lawsuit with Roh So-yeong, director of Art Center Nabi.According to the Financial Supervisory
SK Group Chairman Chey Tae-won recently sold approximately 944 billion won worth of shares in SK Inc. to prepare for a divorce settlement, according to the Financial Supervisory Service. The sale, completed on November 2 through after-hours block trading, involved disposing of 1,653,924 shares, reducing his stake from 12,975,472 to 11,321,548 shares, or from 17.76% to 15.49%.
The transaction was executed in two stages, with Chey securing roughly 544 billion won by trading 972,493 shares at 559,387 won each and an additional 400 billion won from selling 681,431 shares at 587,000 won per share. This sale aligns with SK Group's earlier announced plan to raise personal funds through a stock disposal strategy.
Despite a July ruling by the Seoul High Court that Chey must pay his ex-wife, Roh So-yeong, 944 billion won, he has chosen not to contest 700 billion won of the asset division, seeking resolution from the Supreme Court on the remaining 244 billion won.
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