SEOUL (Reuters) – South Korean SK Group Chairman Chey Tae-won said on Monday the conglomerate will ensure that the outcome of its recent divorce settlement does not leave SK companies vulnerable to a hostile takeover or other problems.
In late May, the Seoul High Court ruled that Chey must pay his ex-wife more than $1 billion as part of a planned divorce.
Chey is appealing the decision to the Supreme Court, he told reporters on Monday.
He owns 17.7% of the holding company SK Inc and controls SK Hynix, the world’s second-largest memory chip maker, and other SK subsidiaries through his stake in SK Inc.
Shares of SK Inc jumped after the Supreme Court decision as investors bet Chey may have to sell part of his stake to raise funds if the Supreme Court upholds the decision.
Analysts, however, say Chey could sell his holdings in non-core subsidiaries or take out loans to finance the divorce settlement without affecting his control of the conglomerate.