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Choi Shin-won, CEO of SK Networks Co., enters a courtroom in Seoul to attend an embezzlement trial on Thursday. (Yonhap) |
Choi Shin-won, CEO and chairman of SK Networks Co., has stepped down from his post, the company said Monday, amid an ongoing trial against him over embezzlement and other charges.
The resignation came six months after Choi, a son of the late founder of South Korea's No. 3 conglomerate SK Group, was indicted, and he has been standing trial for alleged embezzlement of some 223.5 billion won ($190.3 million) and breach of trust and other charges. Choi has denied any wrongdoing.
"As of Oct. 29, Chairman Choi Shin-won resigned from all positions related to the company at his will," the company said in a statement.
"SK Networks will do its best for the stable management of the company and sustainable growth in the future, with the board of directors and president at the center," it said.
Park Sang-kyu, president and CEO of SK Networks, has succeeded Choi as the company's new head, according to its regulatory filing. (Yonhap)
