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☆ SK Hynix rallies 6.5% after Nvidia boss Jensen Huang asks firm to expedite next-generation chip
▼ + stars: | 2024-11-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Chey Tae-won, chairman of SK Group, during the SK AI Summit in Seoul, South Korea, on Monday, Nov. 4, 2024. SK Hynix is working with Nvidia to resolve the supply bottleneck, Chey said. Tech giants around the world have been snapping up Nvidia chips in a bid to produce the most powerful models and applications. SK Hynix shares are up around 36% this year. Samples of the chip — a 16-layer HBM — will be provided to customers in early 2025, SK Hynix said.

Persons: Chey Tae, Chey, Jensen Huang, HBM Organizations: SK Group, SK AI Summit, SK Hynix, Nvidia, SK, SK Hynix's, Tech, Samsung Locations: Seoul, South Korea, HBM

☆ South Korean tech conglomerate SK Inc. surges 16% after chair's $1 billion divorce settlement
▼ + stars: | 2024-05-30 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chey Tae-won, billionaire and chairman of SK Group, prepares to leave after speaking during the Nikkei Forum Future of Asia in Tokyo, Japan, on Thursday, May 23, 2024. Shares of SK Inc., one of South Korea's biggest conglomerates, surged as much as 16% on Thursday after a court reportedly ordered the company's chairman to pay $1 billion to his wife in a divorce lawsuit. Chey Tae-won was told by a Seoul court to pay 1.38 trillion Korean won to his estranged wife, Roh Soh-yeong. Prior local reports suggested Roh was seeking around 2 trillion won as part of a settlement and some of Chey's shares in SK Inc. The final settlement is lower, perhaps explaining the jump in SK Inc. shares, which eventually closed more than 9% higher in Seoul.

Persons: Chey Tae, Roh, yeong, Chey, Roh Tae Organizations: SK Group, Nikkei, SK Inc, CNBC, SK Hynix, SK Telecom, South Locations: Asia, Tokyo, Japan, South, Seoul

On Monday, South Korean President Yoon Suk Yeol announced that the United Arab Emirates had pledged a staggering $30 billion in investment in the Asian country. The news came after the leaders of the two nations held talks in Abu Dhabi on Sunday, in a landmark trip that marked the first-ever state visit to the UAE by a South Korean president, according to a statement from Yoon’s office. In total, representatives from approximately 100 South Korean companies traveled with the president, according to his office. Some South Korean firms also agreed to build farms for tomatoes and strawberries in the UAE, a country that relies heavily on imports of agricultural products. Going forward, South Korea “will be a key partner in the global supply chain,” using its expertise in sectors such as semiconductors and steel-making to help stabilize supply chains, he pledged.

☆ Chief of South Korea's SK Group told to transfer property of $51 mln in divorce
▼ + stars: | 2022-12-06 | by ( Hyunsu Yim | ) www.reuters.com time to read: 1 min

SEOUL, Dec 6 (Reuters) - A South Korean court ordered the chairman of No. 2 conglomerate SK Group to transfer 66.5 billion won ($50.68 million) in a division of property, as part of a divorce ruling on Tuesday. It was not immediately clear if the transfer by Chairman Chey Tae-won would include stock in the group's holding company, SK Inc (034730.KS). Kim Hyeon-jung, a judge of the Seoul Family Court, said the estranged wife, Roh Soh-yeong, would also receive alimony of 100 million won. Chey holds 17.5% of SK Inc, the company's regulatory filings show, with a value of 2.7 trillion won at Monday's closing price.

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