SK Hynix completed its ₩40 trillion (approximately $28.9 billion) share buyback on October 21, about a month before its original November 19 deadline. The program began on August 20. The company repurchased 24.07 million shares, or roughly 3.3% of its outstanding stock.
All shares acquired in the buyback will be canceled. The move is one of the largest of its kind by a publicly listed company in South Korea and is intended to enhance shareholder value.
SK Hynix said it will announce additional shareholder return policies with its third-quarter earnings report on October 28.