SK Hynix chairman to sell $700m in shares for divorce settlement

SK Hynix chairman Chey Tae-won is selling $700 million worth of company stock, a 2.26% stake, to fund a $644 million divorce settlement. Hynix shares have risen over 182% this year amid the memory price boom.

• Chey Tae-won is selling a 2.26% stake in SK Hynix worth $700m
• A court ordered him to pay his ex-wife $644m
• His stake is 17.76%; Hynix shares are up 182% this year
• SK Hynix raised $26.5bn in the US in July