South Korea’s SK Square Announces Share Buybacks to Boost Shareholder Value
SEOUL– SK Square (402340.KS), the holding company of South Korea’s SK Hynix (000660.KS), a leading maker of artificial intelligence chips, announced plans on Thursday to buy back shares and nominate an independent director. This move is aimed at enhancing shareholder value.
The decision follows a proposal earlier this year by London-based hedge fund Palliser Capital, which suggested changes to address the company’s undervaluation. In addition, South Korea’s government has introduced a “Value-Up” program to support stock prices, which is also likely influencing SK Square’s efforts to boost investor confidence.
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