SK Hynix has achieved record pre-tax profit and corporate tax figures following a record operating profit in the second quarter.
On July 29, SK Hynix announced that its pre-tax profit for the second quarter reached 122.7 trillion won, marking the highest quarterly figure in the history of the KOSPI for a single company. This figure more than doubles the pre-tax profit of 58.8 trillion won reported by Samsung Electronics in the first quarter, just one quarter prior.
The record pre-tax profit was significantly influenced by non-operating income, which exceeded 62.2 trillion won. This includes proceeds and valuation gains from the sale of SK Hynix's shares in Japanese semiconductor company Kioxia (formerly Toshiba Memory), which were reflected in the second quarter's non-operating income.
As a result of the astronomical pre-tax profit, SK Hynix's corporate tax expense also reached an all-time high. The company reported a corporate tax expense of 28.8 trillion won for the second quarter, a staggering 1,567% increase compared to the same period last year.
This amount is more than double the 11.6 trillion won corporate tax reported by Samsung Electronics in the first quarter, making it the highest quarterly tax amount among domestic companies.
With its substantial pre-tax profit and cash reserves, SK Hynix plans to accelerate the establishment of a production system for next-generation high-bandwidth memory (HBM).
SK Hynix stated, "We will aggressively pursue proactive facility investments, including the early operation of the Cheongju M15X and the first phase of the Yongin semiconductor cluster."
* This article has been translated by AI.
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