SK chair gives away 1 trillion won worth of stocks

Finance

SK chair gives away 1 trillion won worth of stocks

Published: 23 Nov. 2018, 20:02

SK Group Chairman Chey Tae-won is giving 1 trillion won ($883 million) worth of the conglomerate’s stocks to his relatives.

SK Group on Friday said Chey is giving 3.29 million shares of SK Holdings, a 4.68 percent stake, to relatives including his brother SK Group Vice Chairman Chey Jae-won, who will be receiving 1.66 million shares.

The family of the late Choi Yoon-won, the former SK Chemicals chairman and Chey Tae-won’s cousin, will receive 496,808 shares, and SK Networks Chairman Choi Shin-won and his family will receive 830,000 shares.

Earlier this year, SK Group Chairman Chey Tae-won donated 200,000 shares of SK Holdings worth 100 billion won in the establishment of a non-profit foundation named after the group’s founder and his father Choi Jong-hyun, who passed away 20 years ago. lee.hojeong@joongang.co.kr

BY LEE HO-JEONG