SK hynix Inc. said on Wednesday it had approved a 40 trillion won ($30 billion) share buyback and cancellation plan, the largest such program by a South Korean listed company.
The move will cover approximately 24.07 million shares, representing about 3.3% of the company's total issued shares. The buyback will commence immediately and run for roughly three months, based on the closing share price of 1,662,000 won on Monday.
The decision follows an expansion of SK hynix's shareholder return target to over 50% of cumulative free cash flow, up from the previous cap of within 50%. The company reported net cash of approximately 69 trillion won at the end of the second quarter.
SK hynix first outlined its 2025–2027 shareholder return program in November 2024. Additional details on future returns will be disclosed after board approval, likely tied to the upcoming third-quarter earnings release.
The shares are listed on the Korea Exchange, NASDAQ and the Luxembourg Stock Exchange, with trading in Seoul as the primary market.
