Chey Tae-won, chairman of SK Group, realized a valuation gain of over 14 billion won (approximately $10.7 million) just one day after purchasing shares of SK Hynix.
According to the Korea Exchange on July 31, SK Hynix's stock price surged by 29.95% to reach the upper limit of 1,718,000 won.
On the previous day, Chey disclosed that he acquired 3,620 common shares through on-market purchases. Based on the previous closing price of 1,322,000 won per share, the total purchase amounted to 4,785,564,000 won.
As of the closing price on July 31, the estimated value of Chey's SK Hynix shares increased to 6,219,916,000 won. This represents a valuation gain of 14,335,200 won in just one day compared to the previous closing price.
The per-share valuation gain stands at 396,000 won, reflecting an approximate return of 30%. However, the actual valuation gain may vary based on Chey's exact purchase price per share and transaction costs.
Chey's stock purchase is seen as a demonstration of confidence in SK Hynix's artificial intelligence (AI) semiconductor business and a commitment to responsible management.
* This article has been translated by AI.
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