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SK Hynix Approves $28B Share Buyback
South Korea's SK Hynix announced a plan to buy back treasury shares worth up to $28.3 billion, including approximately 24 million shares over the program's duration. This move is part of its strategy to stabilize the stock market and to boost free cash flows for shareholders, which have increased by more than 50%. The company aims to support its market valuation amid the volatility in the global technology market and the rising demand for processors and chips. SK Hynix expects that the factors supporting its operational activities will continue, while closely monitoring the impact of share buyback programs by rival companies.
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