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Market Chatter: South Korean Court Keeps SK Chairman's SK Inc. Stake in Divorce Asset Pool

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A Seoul High Court again included SK Group Chairman Chey Tae-won's 17.9% stake in SK Inc. (KRX:034730) and other holdings in the marital estate in its latest divorce ruling, Reuters reported Friday.

The court ruled the assets should be valued as of April 16, 2024, when the original appeals court concluded fact-finding in the divorce case, citing Supreme Court precedent, according to the report.

The ruling ordered Chey to pay his former wife, Roh Soh-yeong, 944 billion won in a divorce property settlement, down from an earlier award of 1.38 trillion won, Reuters reported.

Chey will retain ownership of his SK Inc. shares and satisfy the settlement in cash, the report said.

The decision is expected to keep investors focused on Chey's controlling stake, amid questions over whether the sizable cash payment could prompt him to raise funds through borrowing, asset sales or share pledges, the report added.

Shares of SK Inc. slid nearly 4% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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