SK Group Chairman Chey Tae-won to sell $700 million stake in SK Corp for divorce payment in South Korea

On October 2, 2026, SK Group Chairman Chey Tae-won announced he will sell a 2.26% stake in SK Corp for about 944 billion won ($699.5 million) to fund a divorce settlement with his former spouse, Roh Soh-yeong. The sale, due to be completed on November 2, follows a South Korean court order from August 2026. After the sale, Chey will remain the largest shareholder with a 15.49% stake. The payment is a record for South Korea, though lower than the 1.38 trillion won initially awarded in 2024.