SK Square Co., Ltd. rose 6.12% to ₩1,041,000 on September 4, crossing ₩1 million for the first time, as SK hynix gained about 4% on the same day.
SK Square Co., Ltd. (KRX:402340) reported ₩19.24tn of operating income in Q2 2026 on revenue of ₩328.5bn, a ratio that only equity-method accounting can produce.
SK Square Co., Ltd. (KRX:402340) cancelled 34,388 shares on July 31 out of 131,958,386 outstanding, removing 0.026% of the count in a single board resolution.
SK Square Co., Ltd. (KRX:402340) is a holding company whose value is roughly 96% one stake in SK hynix, and that stake was just diluted.
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| Period | 402340 | KOSPI | Difference |
|---|---|---|---|
| 1 week | +1.3% | -1.5% | +2.8% |
| 1 month | -1.8% | +5.2% | -7.0% |
| 3 months | -23.5% | -22.6% | -0.9% |
| 6 months | +105.3% | +31.3% | +74.0% |
| Year to date | +182.9% | +58.7% | +124.2% |
| 1 year | +596.8% | +108.9% | +487.9% |
Closed at 49% of the way from its 52-week low (₩149,400) to its 52-week high (₩1,970,000).
SK Square filed this as a material decision of its subsidiary. SK hynix's board resolved on August 19 to buy 24,070,000 of its own shares between August 20 and November 19, an estimated ₩40.0tn using the ₩1,662,000 close on August 18. That is 3.3% of SK hynix's 730.5m shares, about 3.2% of its ₩1,236.7tn market capitalisation, and roughly 93% of its FY2025 net income of ₩42.95tn. The stated purpose is raising shareholder value through cancellation, and a separate share-cancellation decision was filed the same day, so these shares are not going into treasury to sit there. For SK Square, whose ₩140.8tn market value rests mainly on its SK hynix holding, the mechanical consequence is that its percentage stake in SK hynix rises without it spending anything. The share count is an estimate and will move with the price.
Filed by SK Square for its subsidiary. At the same August 19 board meeting that approved SK hynix's ₩40.0tn buyback, the board also resolved to cancel every share it buys. The document names 24,070,000 common shares out of 730,492,365, which is 3.30% of the company, but that count is simply the ₩40.0tn budget divided by the ₩1,662,000 close on August 18. The filing says plainly that the real number will differ as the price moves and that a correction will follow. The cancellation date is left blank: SK hynix will retire the whole block in one go once purchases finish on November 19. Par value is ₩5,000 and the filing confirms issued capital will not fall, only the share count. For SK Square this is the half that matters, since a buyback on its own would leave the shares sitting in treasury and available to be sold back out.
This is SK Square's duplicate of a filing SK hynix made the same day. SK hynix's board resolved on August 7 to transfer 82 of its own common shares to its six independent directors as part of their remuneration, an estimated ₩122.6m at the ₩1,495,000 close on August 6. Delivery ran from August 8, and the transfer was executed on August 19 at ₩1,500,000 for ₩123.0m. The shares moved from SK hynix's treasury account into each director's personal brokerage account. The board gave its reason for changing independent-director pay: directors' legal liability has widened, the role has grown more demanding, and the range of business they must supervise has expanded. SK hynix put the dilution at under 0.0001% of its shares. Nothing in this document concerns SK Square's own shares, its own board, or its own cash.
This is SK Square reporting a decision made by SK hynix, not by itself. SK hynix declared a quarterly dividend of ₩375 per share totalling ₩273.3bn with an August 31 record date, and SK Square — which holds a controlling interest in the chipmaker — is required to disclose it. For SK Square shareholders the payment is an inflow, not an outflow: cash moves from the subsidiary toward the parent in proportion to its stake. SK Square's own 2025 net income of ₩8.82tn is overwhelmingly equity-method earnings from SK hynix rather than operating profit from its ₩1.41tn of revenue, so this filing is a rare instance of that relationship producing actual cash.
SK Square is the investment holding company spun out of SK Telecom in November 2021 to hold the telecom group's non-telecom assets. Its dominant holding by far is roughly a 20% stake in SK hynix, the world's second-largest memory chipmaker and a primary supplier of high-bandwidth memory to Nvidia, which means SK Square trades mostly as a leveraged, discounted proxy for the memory cycle. The rest of the portfolio is a collection of Korean internet and platform businesses: e-commerce operator 11Street, security firm SK Shieldus (since sold down), app-market and content ventures, and a semiconductor materials arm. Management has run an activist-pressured buyback and cancellation program since 2024 aimed at narrowing the holding-company discount to net asset value, a chronic feature of Korean conglomerate structures. For a US reader, the closest analogue is a listed holding vehicle whose value is dominated by one crown-jewel stake, similar in spirit to how Softbank trades against Arm.
| Sector | Holding Companies | Employees | |
| Market | KOSPI | Founded | |
| Korean name | SK스퀘어 | Head office |
| Symbol | Last Price |
|---|---|
| 028260SAMSUNG C&T CORPORATION | ₩367,000 -1.3% |
| 034730SK Inc. | ₩573,000 +5.1% |
| 267250HD Hyundai Co., Ltd. | ₩240,500 +12.6% |
| 000150Doosan Corporation | ₩1,142,000 +1.5% |
| 003550LG Corp. | ₩121,100 +2.4% |
| 078930GS Holdings | ₩123,900 +4.2% |
| 180640Hanjin KAL | ₩146,000 +9.1% |
| 000880Hanwha Corporation | ₩137,400 +2.8% |
| 175330JB Financial Group Co., Ltd. | ₩31,000 -1.9% |
| 138930BNK Financial Group, Inc. | ₩15,390 -2.7% |