SK Hynix launches $28.6 billion share buyback and cancellation

SK Hynix has launched a share buyback and cancellation program valued at approximately $28.6 billion to $29 billion. The South Korean memory-chip company initiated this move following a sharp selloff in recent months. According to the company, current share prices are too cheap and do not accurately reflect the business's intrinsic value. This strategic financial action aims to address the discrepancy between the market price and the actual value of the company's stock.