Chey Tae-won, chairman of SK Group, has made his first direct purchase of SK Hynix shares, signaling a commitment to responsible management. This move comes amid increased market volatility in the semiconductor sector, reflecting a strong intent to restore corporate value.
On July 30, SK Hynix announced that Chey acquired 3,620 common shares through on-market transactions. The total purchase amount, based on the closing stock price, is approximately 4.785 billion won. This marks the first time Chey has directly bought shares in SK Hynix.
Industry analysts view Chey's share acquisition as a demonstration of management's confidence during a period of undervaluation in the stock market and a step towards fulfilling responsible management obligations. It is believed that he set the purchase amount below the 5 billion won threshold to expedite the transaction without prior public disclosure.
Recently, SK Hynix's stock price has experienced a short-term correction after reaching a peak. On June 25, the stock soared to an intraday high of 298,700 won but has since traded in the 130,000 won range due to overall market downturns and weakened investor sentiment in the semiconductor sector.
Chey has previously emphasized the ongoing demand for memory semiconductors and reiterated the company's long-term growth potential. He stated, "In time, the stock price will rise again," urging the importance of the company's intrinsic value and long-term investment.
* This article has been translated by AI.
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