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Chey Tae-won, chairman of SK Group, personally purchased shares of SK Hynix. The photo shows Chey speaking at the Korea Chamber of Commerce and Industry's Jeju Forum on the 17th, discussing the outlook for SK Hynix's stock price and other topics. / Korea Chamber of Commerce and Industry

Chey Tae-won, chairman of SK Group, has purchased shares of SK Hynix. Chey has exercised control over SK Hynix based on his stake in SK Inc., through SK Inc. and SK Square. This marks the first time he has personally held SK Hynix shares through personal investment. Industry watchers interpret this as part of a responsible management effort.

SK Hynix disclosed on the 30th that Chairman Chey Tae-won purchased 3,620 shares on the open market. Based on that day's closing price of 1,322,000 won, this amounts to a purchase of approximately 4.8 billion won worth of shares.

This is Chey's personal investment, which the market interprets as part of responsible management. Chey currently holds about an 18% stake in SK Inc., the top holding company of SK Group, and has exercised control over SK Hynix through SK Inc.'s 32.14% stake in SK Square, which is SK Hynix's largest shareholder.

With this purchase, Chey has come to directly hold SK Hynix shares for the first time. It is known that he decided to purchase the shares as part of responsible management, driven by confidence in improving earnings and a judgment that the stock price was excessively undervalued.

SK Hynix's share price recently fell sharply along with an overall correction in global semiconductor companies' stock prices. This came after the stock hit an all-time high of 2,987,000 won on the 25th of last month, then dropped 50% in about a month.

Chey had previously said of SK Hynix's stock price, "Since memory chips will continue to be needed, the price will trend upward over time," adding that "holding onto the stock is a good way to preserve wealth."

SK said, "It appears the judgment was that a transaction under 5 billion won, without requiring advance disclosure, could quickly demonstrate responsible management."

                                                                                                                Lee Ji-sun