SK Chairman Chey Tae-won to conclude his presidency at Korea Handball Federation
SK Group Chairman Chey Tae-won/ Yonhap
SK Group Chairman Chey Tae-won will end his 16-year presidency at the Korea Handball Federation (KHF) next year, industry sources said Friday.
Chey will serve the remainder of his term that will end in February, but he decided not to seek another term, according to the sources.
Chey, who first assumed the role in 2008, has been credited with revitalizing the sport in South Korea.
He established the handball development foundation during his first term in 2009 and built a dedicated handball stadium in 2011. Two new corporate-owned handball clubs were also established under his leadership, and the H League, a professional handball tournament, was launched last year.
SK Group has contributed an estimated 150 billion won ($107.5 million) to handball over the years.
The group will continue its backing even after Chey's departure, informed sources said.
Meanwhile, SK hynix Inc. CEO Kwak Noh-jun is expected to run for the KHF presidency in the upcoming election, set for January. SK hynix owns the men's handball team, SK Hawks. (Yonhap)