The photo shows SK Hynix's headquarters in Icheon, Gyeonggi Province on the 29th. [Yonhap News] 사진 확대 The photo shows SK Hynix’s headquarters in Icheon, Gyeonggi Province on the 29th. [Yonhap News]

SK Hynix, the second-largest market capitalization in Korea, reached its upper limit on the 31st, soaring the price limit during the day.

According to the Korea Exchange, SK Hynix was trading at 1,718,000 won as of 2:15 p.m., up 29.95 percent from the previous trading day.

Earlier, SK Group Chairman Chey Tae-won purchased 3,620 shares of SK Hynix’s common stock the previous day. The acquisition unit price is KRW 1,353,677, and the total purchase amount is KRW 4,903,174 won.

Chairman Choi reportedly decided to buy the stock in terms of responsible management based on his belief in the value of semiconductor companies and the judgment that SK Hynix’s stock price has recently become too undervalued.

Earlier, in a meeting on artificial intelligence (AI) during the summer forum of the Korea Chamber of Commerce and Industry held in Jeju on the 17th, Chairman Choi said about SK Hynix’s stock price, “Memories are constantly needed, so if we leave time, it goes upward,” and stressed, “I don’t know what the stock price will be next month, but it is a good way to preserve property without buying or selling it.”

“AI is still a four-year-old child, but memory has no choice but to be used to become an adult,” he said. “The demand will inevitably increase exponentially.”

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