[Photo by Yoo Dae-gil = dbeorlf123@]
SK group chief Chey Tae-won took steps to return to the leadership of his group officially on Friday, nearly one year and seven months after he resigned from all key posts due to charges of spending corporate funds for personal use that sent him to prison.
Shareholders of SK Corp, the group's holding company, approved a proposal to appoint Chey Tae-won as its new board member, helping him to secure a legal ground to control the leadership of SK Group, the country's third-largest conglomerate which owns the world's second-largest microchip maker and top mobile operator SK Telecom.
In 2014, Chey stepped down from all key posts after he was charged with funneling group funds into his own personal investment portfolio. Last August he was released from prison after he served 31 months out of his 48-month jail term.
South Korea's family-oriented business conglomerates or chaebol have all been repeatedly entangled with corruption scandals. However, their leaders have customarily been pardoned or released on parole because of their past economic contributions and potential future investments.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
