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[Newsmaker] SK Group chief gifts 3.29 million SK Corp. shares to kin

Shares gifted worth around 960 billion won

SK Group Chairman Chey Tae-won has given his kin a total of 3.29 million shares of SK Corp., a holding company that controls the nation’s second-largest conglomerate, the company said in a statement Friday.

The chairman has given half of the 3.29 million shares, or 1.66 million shares, to his younger brother Chey Jae-won, who currently serves as executive vice chairman, and a quarter of the total shares, or 830,000 shares, to his cousin SK Networks Chairman Choi Shin-won and his family members. Another 496,808 shares were gifted to family members of late SK Chemical Chairman Choi Yoon-won.

SK Group Chairman Chey Tae-won (SK Group)
SK Group Chairman Chey Tae-won (SK Group)

The decision was made to mark the 20th anniversary of Chey taking the chairman post.

Before transferring the shares, Chey had held 23.4 percent of SK Corp. shares.

The decision will not change SK’s corporate governance “centered on Chairman Chey,” the group said.

Shares of SK Corp. traded at 280,500 won per share at Thursday's close.

By Cho Chung-un (