SK Group Chairman Chey Tae-won buys 4.8 billion won worth of SK hynix shares on the open market

SK Group chairman Choi Tae-won bought 3,620 SK Hynix common shares on the open market for about 4.785 billion won.

It was his first-ever purchase of SK Hynix stock and was seen as a signal of confidence in the company.

The move came without a prior 30-day disclosure plan, underscoring a direct show of support.

The buy is meant to reassure investors as semiconductor shares face a sharp slump and SK Hynix remains undervalued.