[Disclosure] SK Square (402340) Details Subsidiary SK hynix’s KRW 43.1T Capital Increase; Massive Earmarking Formulated for Yongin & Cheongju Fabs

Source Fact: Financial Supervisory Service Electronic Disclosure System (DART) / 2026-07-06

Disclosure Type: Report on Major Deployment (Decision on Capital Increase via Third-Party Allotment – Subsidiary’s Matter Amended Disclosure)

💡 3-Second Summary

SK Square’s key subsidiary, SK hynix, has consolidated its tentative capital increase cap to KRW 43.1T to fulfill its Nasdaq ADR pipeline, explicitly detailing that 100% of the proceeds will anchor long-term foundational infrastructure across Yongin, Cheongju, and EUV scanner acquisitions.

📊 1. [Key Disclosure Content & Detailed Investment Figures]

• Subject Matter: Amending corporate terms regarding the third-party allotment designed for subsidiary SK hynix’s international Nasdaq entry.
• Capital Increase Terms (Subsidiary Level):
  • Total Issuance Amount: Adjusted from KRW 45,453,450,000,000 to KRW 43,140,750,000,000 post-amendment.
  • Issue Price per Share: Revised from KRW 2,555,000 to KRW 2,425,000 based on the placeholder price from the July 3 close.
  • Volume of Float: 17,790,000 new common shares, matching the maximum allocation limit.
• Method & Allotted Intermediary: Third-Party Allotment via the depositary vehicle Citibank, N.A., which holds the underlying shares to issue matching Nasdaq-bound ADRs.
• Tentative Deadlines: Pricing Date is set for July 9, the Offering & Payment Timeline will be fixed between July 13 and July 20, and the Listing of New Local Shares is scheduled for July 29.
• Granular Allocation Scheme for Capital Expenditure (CapEx):
  • Yongin Semiconductor Cluster Phase 1 Fab: The investment horizon spans from August 2024 to December 2030, with a total projected CapEx of KRW 31,019,600 million. Prior capital already invested stands at KRW 4,383,200 million.
  • Cheongju P&T7 Advanced Packaging Fab: The investment horizon runs from April 2026 to December 2030, featuring a total projected CapEx of KRW 19,000,000 million. Sunk costs total KRW 53,473 million.
  • EUV Scanner Acquisitions: Targeting next-generation mass production from March 2026 to December 2027, this setup requires a total projected CapEx of KRW 11,949,674 million. The total baseline purchase contract is valued at EUR 6,913.4 million, with mechanical delivery fixed by December 31, 2027.
  • ※ The ADR offering proceeds will fulfill a partial bracket of the total multi-year investment scope, with remaining allocations balanced via internal cash generation and institutional debt.

📈 2. [Expert Insight: Impact on Share Price]

• Capital Traceability Eradicates Holding Company Friction: This amendment provides vital visibility by laying out the explicit accounting ledgers behind the massive asset creation campaign. Verifying that the multi-trillion won pool is mathematically locked into a KRW 61.9T hard infrastructure grid (KRW 31T for Yongin, KRW 19T for HBM-critical Cheongju advanced packaging, and KRW 11.9T for EUV nodes) insulates parent holding company SK Square from structural risk, securing future equity-method profitability.
• Stringent Preemptive Compliance Insulates Market Backlash: By registering successive local amendments to hedge against long-term over-the-counter conversion velocity (offshore ADRs trickling back into domestic markets), the group demonstrates superb governance discipline. While immediate market price discovery will respond strictly to the institutional discount rates hammered out on the July 9 pricing date, the underlying strategy fundamentally strengthens SK Square’s net asset structure.

📝 Editor’s Comment (by K-STOCK Editor)

The specific deployment roadmap of the unprecedented multi-trillion won capital pipeline orchestrated by SK Square’s prime asset, SK hynix, has finally been decrypted via official ledger entries. Do not get distracted by the nominal valuation adjustment down to 43.1 trillion won; the real story lies in the hardware deployment targets. Allocating 31 trillion won to the primary Yongin node, 19 trillion won to the cleanrooms of Cheongju for HBM advanced backend flows, and approximately 12 trillion won to anchor leading-edge ASML EUV platforms signals an uncompromising offensive stance. This structural capital reallocation far outshines minor near-term equity dilution. Long-term shareholders tracking SK Square should focus on how this intensive fixed-asset transformation will structurally reshape and drive the parent company’s long-depressed Net Asset Value (NAV).

📢 Disclaimer & Source Information

• Source: This content has been structured and generated based on official filings submitted to the Financial Supervisory Service’s Electronic Disclosure System (DART).
• Investment Risk Notice: This brief is provided solely for informational and linguistic reference purposes. Under no circumstances does it constitute financial advice, an endorsement, or a solicitation to buy or sell any specific securities. All investment decisions and subsequent financial responsibilities rest entirely with the individual investor.
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