SK Group Chairman Chey Tae-won and Art Center Nabi Director Roh [Yonhap News Agency] 사진 확대 SK Group Chairman Chey Tae-won and Art Center Nabi Director Roh [Yonhap News Agency]

Chey Tae-won, chairman of SK Group, has completed the disposal of his stake in SK Inc., which he had pursued to raise funds for the property division payment arising from his divorce suit with Roh, director of Art Center Nabi. Chey sold about 1.65 million shares, in transactions totaling 944 billion won.

According to the Financial Supervisory Service’s DART system on the 5th, SK Inc. disclosed that Chey had disposed of 1,653,924 shares he held as of the settlement date on the 2nd through after-hours trading.

Chey sold shares in two tranches in this transaction: 972,493 shares and 681,431 shares, for a total of 1,653,924 shares. As a result, his holdings fell from 12,975,472 shares to 11,321,548 shares.

This sale follows the plan to dispose of shares that Chey disclosed on the 2nd of last month. At the time, he announced a transaction plan totaling 944 billion won. Specifically, it combines a 544 billion won share sale agreement with a 400 billion won price return swap (PRS).

The stake disposal is intended to raise funds to pay the property division settlement arising from Chey’s divorce suit with Roh. In July, the Seoul High Court, in proceedings after the case was remanded, ruled that Chey must pay Roh 944 billion won in property division.

Chey has accordingly been taking steps to secure the property division funds using his personal asset, his stake in SK Inc. With this transaction completed, the previously disclosed share disposal plan has also entered the implementation stage.

His ownership stake has also changed. According to the disclosure, Chey’s stake in SK Inc. fell by 2.45 percentage points, from 25.65% to 23.20%, as a result of the disposal. He remains SK Inc.’s largest shareholder, but his personal stake is now smaller than before.

Meanwhile, SK Inc. announced today that Jang Dong-hyun, vice chairman of SK Inc. and vice chairman and CEO of SK ecoplant, ceased to be a person with a special relationship effective the 1st.

Jang has served as CEO of SK ecoplant since late 2023 and led the restructuring of its business portfolio. He is understood to have stepped away from the front lines of management as SK ecoplant’s efforts to become a wholly owned subsidiary of SK Inc. were being finalized.

This article has been translated by GripLabs Mingo AI.