Chey Tae-won Purchases KRW 4.8 Billion Worth of SK hynix Shares On-Exchange

Chey Tae-won, Chairman of SK Group, has made an on-market purchase of SK hynix shares worth 4.8 billion won to emphasize his commitment to responsible management.

SK Chairman Chey Tae-won is speaking at the 'San Francisco AI Summit' held on the 24th (local time) at The Midway in San Francisco, USA, attended by President Lee Jae-myung. Photo by Yonhap News

On July 30, SK hynix announced in a regulatory filing that Chairman Chey purchased 3,620 shares of SK hynix common stock through an on-market transaction. Based on the closing price, the total transaction amounted to approximately 4,786,540,000 won. This marks Chairman Chey's first time purchasing SK hynix shares.

It is known that Chairman Chey decided on this purchase out of his confidence in the value of the semiconductor business and his assessment that SK hynix shares are undervalued, as part of his commitment to responsible management.

On June 22, SK hynix shares closed at 2,919,000 won, setting a historic high. However, the stock has since plummeted, finishing this day at 1,322,000 won.

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