SK Group Chairman Chey Tae-won will sell 1,653,924 SK Inc. shares, representing about 2.3% of the company, for 944 billion won ($696.7 million) as he prepares for potential payment obligations in his divorce case with Roh Soh-yeong, director of Art Center Nabi. The Oct. 2 disclosure said transactions will begin Nov. 2, with 544 billion won of shares sold to strategic investors and 400 billion won acquired by securities firms through a price return swap, or PRS. Korea Investment & Securities will acquire 681,431 shares through the PRS, giving it a 0.93% stake in SK Inc., also referred to as SK Corp. in the newer disclosure. Chey has appealed the 944 billion won property-division ruling but is contesting only 244 billion won after no longer challenging 700 billion won. His direct stake will fall from 17.8% to 15.5%, while his voting stake with specially related persons will decline from 33.5% to 30.5%, leaving him the largest shareholder. SK said the structure is intended to meet Chey’s personal funding needs while limiting pressure on the share price and the group’s management stability.