South Korean chaebol: AI semiconductors, chemicals, telecoms
SK Hynix has raised $26.5bn by selling 177.9m American depositary receipts at $149 each, in the largest-ever US share sale by a foreign company. Its ADRs have begun trading on Nasdaq under temporary ticker SKHYV and will convert to SKHY; the company is using proceeds to expand fabs, packaging and EUV capacity as AI-driven memory demand surges.
South Korea’s Kospi has surged and then tumbled in line with AI-driven moves by Samsung and SK Hynix. Regulators have paused leveraged ETFs as retail traders chase high-risk bets, while global investors watch the country as a barometer for AI demand.
Memory-chip stocks have surged on AI demand but face a sharp pullback as investors reassess valuations and the U.S. listing gap for SK Hynix widens, with analysts expecting volatility to persist into the next quarter.
The Seoul High Court has ordered a further review of the divorce settlement between Chey Tae-won and Roh Soh-yeong. The ruling, following a Supreme Court direction, values Roh’s claim at a level lower than last year’s 1.38 trillion won award. The case, tied to Chey’s SK Group leadership and the AI-chip boom, could be sent back to the Supreme Court if appeals are filed.