On the night of August 4, the 25 days that kept SK hynix quiet run out

SK hynix did not withhold a shareholder return plan for lack of one. It was inside a window where it could not speak. That window runs 25 days from its American depositary receipt listing in the United States on the 10th of last month, and it closes on the night of the 4th, Korea time.

SK hynix nears end of disclosure restriction, sparking shareholder return hopes (Seoul Economic Daily English, 2026-07-30)

출처: en.sedaily.com

Seoul Economic Daily reported the restriction runs 25 days from the listing and ends on August 4 Korea time. The same article explained that announcing material information such as a large buyback or a special dividend inside that window invites class action exposure under US securities law.

Where the number 25 comes from

No regulator ordered the company to stay silent. A newly listed issuer in the United States must keep delivering its prospectus for a set period. Announcing material facts absent from that document during the period puts the announcement at odds with the prospectus already in circulation, and liability follows. Waiting becomes the safer choice. This is a risk window rather than a ban. The 25 days the market works with come from that delivery requirement, not from any line that says twenty five.

SK hynix says ADR regulations prevented disclosure of shareholder return plans (The Elec English, 2026-08-01)

출처: thelec.net

The Elec reports this account came from the company itself rather than from speculation. Song Hyun-jong, president of the Corporate Center, said that "due to regulations and procedures related to the ADR offering, there are restrictions on providing additional material information."

What happened while it could not speak

The second quarter was a record. Revenue of KRW 79.3tn and operating profit of KRW 60.5tn, and the shares still fell close to 10% right after. The numbers were not the problem. The shareholder return package investors expected alongside them was missing. With the company unable to speak, another signal filled the gap.

SK chief makes first personal purchase of SK hynix shares (The Korea Herald, 2026-07-30)

출처: koreaherald.com

On July 30 Chey Tae-won, chairman of SK Group, bought 3,620 SK hynix shares for about KRW 4.79bn, the first time he had bought them directly. He said memory chips will keep being needed so the share price rises with time, and that holding is better than trading in and out. A personal purchase stood in for a sentence the company was not allowed to say.

The deadline is third quarter results in late October

The window lifts after the night of the 4th, which is not the same as an announcement arriving that day. Analysts expect something concrete no later than the third quarter results in late October. If a company sitting on more than KRW 69tn of net cash keeps waiting for months after the restriction lifts, the delay stops being about rules and starts being about willingness. If instead a plan arrives with a buyback size and a timetable attached, the case strengthens that the past month of selling was concentrated in the stretch when the company could not answer.