SK Hynix shares surged 6.3% to ₩1,595,000 on Thursday after the company announced a ₩40 trillion ($28.3 billion) share repurchase program, the largest in South Korean corporate history.
The buyback, which began immediately, targets more than 24 million shares and will run through November 19. All repurchased shares will be canceled, signaling a commitment to returning capital to shareholders. The company also raised its capital return commitment to more than 50% of cumulative free cash flow generated between 2025 and 2027, up from a prior target of "up to 50%."
Management stated the move reflects confidence in the company's intrinsic value, citing strong business competitiveness and robust cash generation that are not fully reflected in the current stock price. The announcement follows a sharp decline in SK Hynix shares on August 19, when the KOSPI index fell as much as 6.8% intraday amid concerns over rising global bond yields and their potential impact on AI infrastructure investment funding costs.
On Thursday, the KOSPI rebounded with a gain of over 4%, aligning with the broader market recovery from the prior session's losses.
