A Michael Dell-linked investment fund has agreed to buy a 1.34% stake in SK Inc. for 544 billion won, or about $406 million, according to a South Korean regulatory filing reported by Reuters. The seller is SK Group Chairman Chey Tae-won, who is raising cash to meet a record divorce settlement.
The buyer is DFO Public Investments, a Delaware fund affiliated with DFO Management, Michael Dell's family office. The transaction covers 972,493 SK Inc. shares and forms part of Chey's broader plan to sell 1.65 million shares for 944 billion won. Korea Investment & Securities is buying another 681,431 shares for 400 billion won.
Why the buyer matters
SK Inc. is the holding company at the center of SK Group and the largest shareholder of SK Hynix, one of the leading suppliers of high-bandwidth memory used in artificial intelligence systems. That makes the investment strategically interesting, but it does not make Dell Technologies the buyer. DFO is a separate family-office vehicle, so investors should not treat the purchase as a corporate supply agreement or an acquisition by Dell.
The distinction is important because the transaction arrived as technology companies compete to secure advanced memory capacity. Reuters previously reported that prospective customers had explored financing dedicated SK Hynix production lines. The new share purchase may deepen a relationship around a strategically important supplier, but neither the filing nor the reported terms establishes a memory commitment.
Control appears unchanged
Chey is selling stock to satisfy a personal financial obligation rather than to fund SK Inc. The wider sale is intended to raise the 944 billion won ordered in his divorce case. Reuters reported that he should remain SK Inc.'s largest shareholder after the planned disposal.
For SK investors, the immediate effect is therefore a change in the shareholder register, not new operating capital. The meaningful questions are whether DFO seeks a longer-term role, whether SK provides more detail about the strategic rationale, and whether further share sales alter governance or voting dynamics. For Dell Technologies shareholders, there is no disclosed corporate cash outlay or direct earnings impact.