SK Square, the investment holding company of SK Group, appears to have posted its highest-ever operating profit in the second quarter of this year. As SK hynix's profit surged, SK Square, the largest shareholder with about 20% equity, also saw its results improve sharply.
According to the Financial Supervisory Service on the 14th, SK Square's second-quarter operating profit on a consolidation basis jumped 1,273.8% from a year earlier to 19.2354 trillion won. Net profit also rose 1,190.5% to 18.6750 trillion won.
Cumulative operating profit for the first half came to 27.5137 trillion won, and cumulative net profit came to 27.0498 trillion won. On a half-year basis as well, it posted a record-high level of profit.
SK Square said the improvement was the result of SK hynix's strong performance and its focus on artificial intelligence (AI) and semiconductor portfolios, along with steady shareholder returns. Its market capitalization reached about 147 trillion won based on the closing price on the 13th, more than six times higher than about 24 trillion won at the end of the second quarter last year. Over the same period, its ranking by market cap on the main bourse jumped from 23rd to 3rd.
To focus on investments in AI and semiconductors, SK Square sold digital advertising company Incross to SK Networks in January. In June, it sold ONE store to Nexus, prioritizing portfolio rebalancing.
It is also continuing shareholder returns. After canceling all 40 billion won worth of treasury shares it acquired in the first half last month, it plans to buy an additional 70 billion won in treasury shares and cancel them by early next year.
SK Square said it plans to accelerate its AI transformation (AX) while continuing new investments centered on AI and semiconductors. It is preparing investments in areas such as the semiconductor value chain and said it is deploying investments in AI and semiconductor corporations in the United States and Japan through its overseas investment arm TGC Square.
Kim Jeong-gyu, president of SK Square, said, "We will actively communicate with shareholders to enhance corporate value and prepare for AX and new semiconductor investments."