SEOUL -- South Korea's antitrust regulator on Wednesday fined Chey Tae-won, the head of the SK conglomerate, 800 million won ($671,000) for accepting a sweetheart investment opportunity from the group's holding company.
The penalty, however, is far smaller than Chey's unrealized gains from the deal, underscoring the difficulties faced by South Korean governments in reining in what have long been seen as abuses by the country's dominant chaebol, or family-run business groups. SK Inc., the conglomerate's holding company, was also fined 800 million won for yielding the chance to Chey.
