SK Square, a key pillar of the SK Group, has been climbing at an astonishing rate since the beginning of this month. Especially over the past month, its share price has surged by over 80%, further elevating its market stature. This is not merely market volatility but a result of the semiconductor super cycle taking full effect, causing the value of its key subsidiary, SK Hynix, to explode simultaneously. At the same time, the company's management is actively implementing policies to return profits to shareholders, earning investor trust and resulting in a continuous inflow of buy orders.
According to exchange data, as of the 30th, SK Square's share price closed at 841,000 won, up 1.33% from the previous day. During trading, it soared to 877,000 won, setting a new historical high once again. While the stock was sluggish and trading sideways in March amid heightened tensions between the United States and Iran, it has completely reversed course since the beginning of this month. It has drawn a steeper upward curve than the share prices of its subsidiaries, which have risen throughout the same period, while institutional investors have supported the stock price with a total net buy order worth 350 billion won this month alone.
In terms of market capitalization, SK Square has achieved overwhelming results and gained a significant advantage in the rank competition. Its market cap has grown to 12.7154 trillion won, making it the 3rd largest (excluding preferred stocks) among listed securities. Compared to its 7th place status at the end of last month, it has surpassed major companies such as Hyundai Motor, LG Energy Solution, Samsung BioLogic, and Hanwha Aerospace in just one month, climbing up four rungs. As the largest shareholder holding approximately 20% of Hynix, the two companies have strong share price correlation. With semiconductor prices surging due to memory supply shortages caused by advancements in AI technology, Hynix's performance has improved significantly, and SK Square is fully benefiting from this.
Experts predict that SK Square will continue its strong upward trend in the future. An Jae-min, a researcher at NH Investment & Securities, noted that given the perspective that semiconductor demand will not easily decline, Hynix's share price rise will continue, and consequently, the enterprise value of its parent company, SK Square, is expected to rise in tandem. He analyzed that Hynix's performance growth will lead to dividend expansion, improving cash flow; the incoming funds will then be connected to expanded shareholder returns and semiconductor-related M&A investments, continuously boosting enterprise value.
The securities industry is dominated by optimistic forecasts that SK Square's share price will soon break the 1 million won barrier. NH Investment & Securities and Daishin Securities have significantly raised their target prices to 740,000 won to 1.10 million won and 760,000 won to 1 million won, respectively, in corporate analysis reports released this month. In particular, the Financial Investment Association explained that as the inclusion ratio of Hynix in equity funds is adjusted monthly, the discrepancy between the inclusion ratio and market cap has widened due to the sharp rise in share prices, highlighting SK Square as an alternative. Kim Hwe-jae, a researcher at Daishin Securities, emphasized that considering Hynix's performance and share price outlook, SK Square has sufficient room for growth, and that the interest rate environment and institutional fund flows will work in its favor.