SK hynix will buy back and cancel KRW 40T ($30.8B) of its own shares, the largest treasury-stock move ever by a Korean listed company.
The board approved the plan on August 19, covering about 24 million shares at roughly KRW 1.66M each, based on the previous day’s close. The company ended the second quarter with net cash of about KRW 69T ($53B).
SK hynix also rewrote its payout pledge, committing to return 50 percent or more of cumulative free cash flow through 2027, where the earlier promise capped returns at 50 percent. Further detail on scale and timing is expected with third-quarter earnings.
The buyback signals confidence that the AI memory boom has room to run, after record quarterly profit driven by HBM demand. The move is meant to lift a stock that management believes trades below its intrinsic value despite a strong run.
