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SK Hynix announced a buyback and cancellation of 3.3% of its shares, valued at approximately $29 billion, marking the largest treasury stock cancellation in the history of South Korean listed companies.
SK Hynix's board of directors approved the plan on August 19 and initiated the buyback window on August 20. This move reflects the company's belief that its intrinsic value is not fully reflected in the current stock price. Additionally, SK Hynix will expand its shareholder return framework for 2025-2027 from "within 50% of cumulative free cash flow" to "over 50%."
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