Dell Family Fund Buys SK Stake as Chairman Funds Divorce Settlement

SK Group Chairman Chey Tae-won agreed to sell 972,493 shares, a 1.34 percent stake in SK Inc, to DFO Public Investments for 544 billion won, about $406 million, a regulatory filing showed. The Delaware fund is affiliated with DFO Management, Michael Dell's family investment office. The sale is part of Chey's plan to raise 944 billion won through share sales to fund a divorce settlement. Separately, 681,431 shares, a 0.94 percent stake, are being sold to Korea Investment & Securities for 400 billion won. Combined, the two sales cover 1.65 million shares, or 2.26 percent, for 944 billion won. Chey entered a three-year price return swap on the Korea Investment & Securities portion. The Korea Corporate Governance Forum said Chey and the buyers must disclose stakes as joint holdings if they agreed, even informally, to exercise voting rights the same way, and on October 6 questioned whether the sale circumvents a strengthened 3 percent rule effective at next year's shareholder meeting. SK Inc had called the then-unnamed buyer a strategic investor. The purchaser is the Dell family fund, not Dell Technologies, though Dell and SK Hynix have business ties in AI data-center infrastructure and memory chips; SK Hynix showcased HBM4 at Dell Technologies Forum 2026 in Seoul in August.