SK Hynix will buy back $28.6bn of its own shares, the biggest repurchase in Korean corporate history
SK Hynix will buy back 40 trillion won of its own stock, about $28.6bn at prevailing exchange rates, in what Korean media are calling the largest repurchase ever announced by a listed company in the country.
The board approved the programme on Wednesday and every share bought will be cancelled outright rather than held in treasury.
The move had been telegraphed. SK Hynix promised new shareholder-return measures earlier this month without attaching a number, and the market’s patience for the vagueness had already run out.
The buyback covers 24.07 million common shares, priced off Tuesday’s close of 1,662,000 won, and works out at roughly 3.4% of shares outstanding. Purchases run on the open market between 20 August and 19 November, with SK Securities acting as broker.
Alongside it, the company raised its shareholder-return commitment from 50% of cumulative free cash flow across 2025 to 2027 to more than 50%.
It...
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