SK Chief Chey will discuss investment, management, but not divorce settlement at upcoming meeting

SK Group's executives will meet to review investment plans and strategies, including a potential exit from certain assets.

SK Chairman Chey Tae-won speaks during a reception on June 3. [JOINT PRESS CORPS]

SK Group Chairman Chey Tae-won and other company executives will meet on June 28 and 29 to review investment plans and management strategies.

The two-day meeting in Icheon, Gyeonggi, will bring together Chairman Chey, SK Supex Council Chairman Chey Chang-won and SK Executive Vice Chairman Chey Jae-won alongside the CEOs of key affiliates like SK hynix. The Supex Council is the conglomerate's top decision-making body.

SK, the country’s second-largest conglomerate, publicly mentioned that it is pursuing “rebalancing” its investment portfolio, which will lead to the unloading of certain assets.

Local media outlets speculated that the conglomerate could make an exit or curb its holdings worth around 1.7 trillion won ($1.2 billion) in Vietnam’s Masan Group and Vingroup as the two’s corporate valuations continue sliding.

SK is eligible to execute its put options, which would allow the conglomerate to sell that stake at purchase price, between October 2023 and October 2024.

A company spokesperson characterized the meeting as an opportunity to further the implementation of its longstanding leadership philosophy known as the “SK Management System.”

The recent ruling in SK Group Chairman Chey's divorce case and its impact on the company's corporate governance structure are also on the agenda, according to reports. The spokesperson denied those claims, saying that such matters are aspects of Chey’s private life rather than business decisions.

Chey was ordered last month to pay 1.3 trillion won to his estranged wife, Roh Soh-yeong, in addition to 2 billion won in alimony, marking the country's largest-ever divorce settlement.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]