Key facts
- SK hynix is expected to inject a large amount of U.S. dollars into South Korea's foreign exchange market.
- The company raised approximately 40 trillion won (US$26.5 billion) through an American depositary receipt (ADR) offering on Nasdaq.
- The proceeds are scheduled to be paid to the company on Monday.
- SK hynix intends to use most of the funds for domestic investments, including the Yongin semiconductor cluster.
- The inflow is anticipated to ease pressure on the Korean won, which has been weak against the dollar.
SK hynix Inc. is poised to significantly bolster South Korea's foreign exchange market with a substantial influx of U.S. dollars, following its recent American depositary receipt (ADR) offering on Nasdaq. The company raised approximately 40 trillion won (US$26.5 billion), with the funds scheduled for payment on Monday.
Industry sources indicate that SK hynix plans to allocate the majority of these proceeds to domestic investments, notably the development of the Yongin semiconductor cluster. Consequently, a large portion of the dollar-denominated funds is expected to be converted into the Korean won, thereby increasing the supply of dollars within the local FX market.
This anticipated dollar inflow is seen as a crucial factor in easing the downward pressure on the Korean won, which has experienced weakness due to a strong global dollar and increased overseas investments by South Korean firms. Market experts have drawn parallels between the potential scale of this transaction and the dollar liquidity provided through the $60 billion currency swap deal between the Bank of Korea and the U.S. Federal Reserve during the market turmoil of 2020, although actual drawings from that facility were lower.
SK Group Chairman Chey Tae-won, along with SK hynix CEO Kwak Noh-jung and other executives, marked the company's Nasdaq debut with a bell-ringing ceremony on July 10, 2026.