Disclosure Decoder #003: SK Hynix's KRW 40 Trillion Buyback With No Cancellation Date
The board (6 of 6 outside directors present, 0 absent) resolved on 19 August 2026 to repurchase and then cancel 24,070,000 common shares — approximately 3.3% of the 730,492,365 shares currently outstanding. The planned cancellation amount is KRW 40,004,340,000,000 (~$28.8B). The share coun
The Filing
Share Cancellation Decision. SK Hynix (KRX: 000660). Filed 19 August 2026 via DART. Category: Shareholder Returns.
What It Literally Says
The board (6 of 6 outside directors present) resolved on 19 August 2026 to repurchase and cancel 24,070,000 common shares, or 3.3% of the 730,492,365 outstanding. The planned amount is KRW 40,004,340,000,000 (~$28.6B), sized off the 18 August close of KRW 1,662,000 (~$1,189). The open-market window runs 20 August to 19 November 2026, brokered by SK Securities; no cancellation date is given, and the shares are retired in one batch after it closes. Issued shares fall, paid-in capital does not: the cancellation draws on distributable retained earnings under Commercial Act Article 343(1).
What It Actually Means
SK Hynix is buying to destroy, not to hold: the filing states every share bought will be cancelled. The quantum is price-contingent, though. A rising stock over the 90-day window means fewer shares retired for the same KRW outlay.
In a separate same-day announcement, not in this filing, SK Hynix replaced the ceiling on its shareholder-return framework with a floor. The November 2024 policy promised returns “within 50%” of cumulative 2025-2027 free cash flow; the revision reads “50% or more.” The rule change outlasts this one buyback.
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