SK Square jumped more than 10% early on the 27th. As the share price of subsidiary SK hynix rose, SK Square emerged as an alternative investment destination, drawing buying interest and breaking through 1,302,000 won intraday.
As of 9:29 a.m. that day, SK Square was trading on the Korea Exchange at 1,302,000 won, up 121,000 won (10.25%) from the previous session.
SK Square is emerging as an indirect investment destination for SK hynix due to domestic equity fund rules.
Domestic equity funds are limited to a 10% allocation for a single stock. With it difficult to increase the SK hynix weighting further, buying appears to be concentrating in SK Square, which holds more than 20% equity.
SK Square's strategy to enhance corporate value is also analyzed as one of the factors that led to the share price rise.
Kim Hoe-jae, an analyst at Daishin Securities, said, "SK Square is an excellent case of enhancing corporate value by strategically leveraging alternative investment demand for SK hynix and grasping market trends."