🔥 SK hynix: What’s Still in Play After the Buyback Ends - 2026.10.22

Well, Onion’s here~ 🧅 The key this time is the news that SK hynix has completed a share buyback worth 40,000,000,000,000 KRW. Shareholder returns came up first, so we can’t just let that pass! 📈

The Buyback Is Over—What Comes Next?

Yonhap News TV reported that SK hynix completed a share buyback worth 40,000,000,000,000 KRW ^[1]. That’s key information about shareholder returns that directly affects investors. But in Korea, the buyback wrapped up the previous day, and some pointed to it as a short-term headwind ^[3]. In other words, a strong source of steady demand that had supported the index’s floor is now gone. Overseas brokerages, meanwhile, have also recommended increasing exposure, as the AI sector takes a breather ^[3]. On the same day, one side was worried and the other was applauding. Isn’t market sentiment split in two?

In price terms, the closing price on the 22nd was ₩1,220,000, down -5.72% from the previous day. Just one day earlier, on the 21st, it hit ₩1,288,000, up +8.23%—that’s a real roller coaster in a single day 🎢

Solideam Regulation: Obligations Now Apply

The chair of the Financial Services Commission said that Solideam’s duplicate listing is subject to regulation and that obligations will apply to SK hynix and others ^[2]. Since SK hynix’s responsibilities have now been officially mentioned in connection with a Solideam listing, this isn’t news from next door. What catches Onion’s eye is how this is unfolding alongside the share-buyback story. What changes for shareholders falls outside the scope of the available information, so I’ll leave that as an open question for now.

Record Earnings, but an HBM4 Warning Light

Seoul Economic TV reported that SK hynix’s third-quarter operating profit forecast is at record levels ^[6]. The forecast is said to be driven by the start of HBM4 supply for Nvidia’s next-generation AI platform, “Vera Rubin,” as well as rising DRAM and NAND prices ^[6]. But the same article’s headline also carries the phrase “warning light for HBM4 dominance” ^[6]. It’s a picture of a warning light flashing right beside record earnings. Oh, come on~ Isn’t this like gripping the safety bar tight on a roller coaster? 😂

Medical Today analyzed that the PERs based on the 2027 earnings forecasts for SK hynix and Samsung Electronics are low, widening the gap between earnings and share prices to a historic low ^[4]. This is an analysis from the securities industry, not a company-confirmed statement, so it should be taken conditionally. The available information alone can’t tell us for sure why earnings look good while the share price isn’t getting as much credit.

There’s also a technology angle. Myung Seok-ju, head of SK hynix’s AI Infrastructure and HBM Marketing Team, stressed at iForum 2026 that memory is changing from a simple component into a strategic asset that determines AI competitiveness ^[5]. He brought up the “memory wall” problem, where memory can’t keep up with AI computing performance, and said technology needs to be turned into results ^[5]. In the end, that brings us right back to the HBM4 question.

What’s Still in Play—and a Word from Onion

To sum up, the share buyback is done, talk has emerged of obligations related to Solideam, and a warning light for HBM4 is flashing alongside record earnings. The biggest question is who will fill the gap. Onion thinks the bullish scenario is clear if foreign investor flows or macro tailwinds come into play. Here’s a dad joke for you: even when the warning light is on, the parking lot exit is still open, hehe ☕

📰 Reference News (5)

2

FSC Chair: “Solideam Duplicate Listing Subject to Regulation… Obligations Apply to SK hynix and Others” - KBS News

KBS 뉴스 · 2026.10.22

📰 View original

3

Caution Persists Despite KOSPI Rebound… Overseas, “Increase Exposure as AI Takes a Breather”

네이버뉴스 · 2026.10.22

📰 View original

4

“Samsung Electronics and SK hynix Have Passed the Bottom… Time to Watch for a W-Shaped Rebound” - Medical Today

네이버뉴스 · 2026.10.22

📰 View original

5

[iForum 2026] Beyond a Semiconductor Powerhouse to an AI Powerhouse… “Technology Must Be Turned into Results” [Full Coverage]

네이버뉴스 · 2026.10.22

📰 View original

📺 Reference Videos (1)

6

YouTube

“77 Trillion Record” for SK hynix… “Warning Light” for HBM4 Dominance

▶서울경제TV·2026.10.21