SK Square is an arm of the sprawling conglomerate SK Group, which is chaired by Chey Tae-won, one of South Korea’s richest men. Inside it lies a crown jewel, a roughly 20% stake in SK Hynix which is worth even more than SK Square itself. SK Square has bought back stock previously, including $73 million worth of shares this year. It wants SK Square to lower its capital costs by using more debt. “SK Square has been exchanging views with Palliser regarding long-term strategic direction and shareholder return policies,” said a spokesperson for SK Square.

Source: Wall Street Journal October 16, 2024 05:07 UTC