SK Group Chairman Chey Tae-won has purchased SK Hynix shares under his own name for the first time, signaling confidence in the chipmaker's long-term prospects after its stock came under pressure despite posting record earnings.
According to a regulatory filing with South Korea's Financial Supervisory Service on July 30, Chey acquired 3,620 common shares of SK Hynix through open-market transactions.
Based on the company's closing price of 1.322 million won per share on the day, the purchase was worth approximately 4.79 billion won (about US$3.4 million), although the actual transaction value may differ depending on the execution price.
The purchase carries symbolic significance beyond a simple investment.
Until now, Chey had exercised control over SK Hynix indirectly through SK Inc. and SK Square, the company's largest shareholder. He had never personally owned SK Hynix shares, making this his first direct equity investment in the world's leading AI memory chipmaker.
SK Square currently holds a 20.0% stake in SK Hynix. Among the company's executives, CEO Kwak Noh-jung owns 14,312 shares, while Cha Seon-yong, head of the Future Technology Research Center, holds 6,834 shares.
Market observers view Chey's purchase as a strong message of confidence and a demonstration of responsible leadership at a time when investor sentiment has weakened.
Although SK Hynix reported record quarterly earnings for the second quarter of 2026, its shares have retreated sharply following the earnings release as investors locked in profits and concerns over AI semiconductor valuations weighed on the broader sector.
Chey's move also reinforces the long-term investment philosophy he publicly expressed earlier this month.
Speaking to reporters on July 17, he said SK Hynix shares would "trend upward over time" and advised investors against attempting to time the market.
Rather than repeatedly buying and selling, he said, holding quality assets for the long term is a better way to preserve wealth.
Just two weeks later, Chey backed up those remarks by investing his own money, a move widely viewed as a vote of confidence in the company's future rather than a symbolic gesture.
The purchase comes shortly after global investment bank UBS initiated coverage of SK Hynix's American Depositary Receipts (ADR) with a Buy rating, arguing that the company's valuation does not fully reflect the long-term growth potential of the AI memory market.
With both a leading global investment bank and the group's chairman expressing confidence in SK Hynix's long-term outlook, market attention is increasingly focused on whether the recent share-price correction presents a compelling buying opportunity.
