"SolIdigm U.S. Listing Could Dilute Shareholder Interests" ... Lee: "We View It as Duplicate Listing" [2026 National Assembly Audit]

Lee Chan-jin, Governor of the Financial Supervisory Service, said he considers the planned Nasdaq listing in the United States of Solidigm, a subsidiary of SK hynix's subsidiary, to be a dual listing.

Lee Chan-jin, Governor of the Financial Supervisory Service, delivers opening remarks during a parliamentary audit of the Financial Supervisory Service and other agencies at the National Assembly on the 19th. 2026.10.19 Photo by Yoon Dong-ju

At the Financial Supervisory Service's parliamentary audit by the National Assembly's Political Affairs Committee on October 19, People Power Party lawmaker Park Seong-hoon said of Solidigm's listing, "This is a typical case of the chronic problem of dual listings in the Korean stock market now expanding overseas as well." He added, "It also raises concerns that existing shareholders' economic interests will be diluted and the company's value will be subject to a double discount."

In response to Park's question about whether the negative effects of the listing had been analyzed, Governor Lee replied, "We are looking into it."

Park went on to say, "Because overseas listings are not structured so that domestic exchanges directly conduct the listing review, the board procedures and disclosures of the domestic parent company are especially important." He asked the authorities to "compare the period before and after the listing, determine how the value of SK hynix's stake will change and how much the economic benefits accruing to existing shareholders will be undermined, and inform the public and shareholders."

In response, Governor Lee said, "The Financial Services Commission and we are responsible for determining whether this constitutes a dual listing." He added, "However, the Financial Services Commission is waiting for an authoritative interpretation on whether this falls under the scope of domestic securities registration statements. We will do our utmost to take whatever measures are possible."

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