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SEOUL (Reuters) – South Korea’s SK Group Chairman Chey Tae-won stated on Monday the conglomerate will ensure that the result of his current divorce fee ruling doesn’t go away SK firms susceptible to hostile takeover or different issues.
The Seoul Excessive Court docket dominated in late Might that Chey should pay greater than $1 billion to his estranged spouse as a part of their deliberate divorce.
Chey is interesting the ruling to the Supreme Court docket, he advised reporters on Monday.
He owns 17.7% of holding firm SK Inc and controls SK Hynix, the world’s second-largest reminiscence chipmaker, and different SK associates via his stake in SK Inc.
Shares in SK Inc had jumped after the excessive court docket ruling, as buyers wager that Chey could must promote a few of his stake so as to increase funds, if the Supreme Court docket confirms the ruling.
Analysts, nonetheless, say Chey could promote his holdings in non-core associates or take out loans to finance his divorce fee in order to not have an effect on his management over the conglomerate.
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