Chairman Chey Tae-won Makes First Purchase of SK Hynix Stock Worth 4.8 Billion Won

SK Group Chairman Chey Tae-won has acquired about 4.8 billion won worth of SK Hynix stock, a move interpreted as a strong signal of his commitment to corporate responsibility during a period of increasing uncertainty in the domestic stock market, particularly within the semiconductor sector.

SK Hynix announced that Chey purchased 3,620 common shares through open market transactions on July 30. Based on the closing price that day, the acquisition amounted to approximately 4.785 billion won. This is the first time Chey has directly bought SK Hynix shares in his personal capacity. Previously, his influence over the company was exercised through SK Square, the largest shareholder.

Sources indicate that Chey's decision stems from his belief in the semiconductor industry's future and his assessment that SK Hynix's stock is currently undervalued. The purchase is seen as a proactive measure to demonstrate leadership and confidence in the company's prospects.

SK Hynix's stock has experienced a sharp decline, falling to 1.322 million won on July 30, a significant drop from its all-time high of 2.987 million won recorded just over a month prior on June 25. This volatility underscores the challenging market conditions.

Earlier, on July 17, Chey had expressed optimism about the company's performance, stating at the Jeju Forum hosted by the Korea Chamber of Commerce and Industry, "Memory [chips] are always needed, so if you give it time, it will trend upwards. It's better to hold onto them rather than buying and selling to preserve your assets."

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Memory [chips] are always needed, so if you give it time, it will trend upwards. It's better to hold onto them rather than buying and selling to preserve your assets.