[Edaily Reporter Kim Hyung-il ] SKSQUARE(402340)is surging by more than 20% in early trading. This is believed to be driven by a surge in SK hynix(000660) following the strength of U.S. semiconductor stocks, as well as news that SK Group Chairman Choi Tae-won purchased SK hynix shares on the open market, which has boosted investor sentiment.

According to MP Doctor on the 31st, as of 9:33 a.m., SKSQUARE is trading at 1,038,000 won, up 29.91% (239,000 won) from the previous trading day. It hit an intraday high of 1,038,000 won, setting a new record high.

SKSQUARE is the largest shareholder of SK hynix, holding a 20.0% stake. With SK hynix surging by around 20% today, investor sentiment is believed to have improved as the value of SKSQUARE’s stake came into focus. SK hynix and SamsungElectronics(005930)both rose by around 20% early in the session, driven by the strong performance of semiconductor stocks on U.S. markets overnight.

According to the Financial Supervisory Service’s electronic disclosure system the previous day, SK hynix announced via a “Report on Changes in Shareholdings by Major Shareholders” that Chairman Choi Tae-won had purchased 3,620 common shares on the open market. This marks the first time Chairman Choi has directly purchased SK hynix shares. Chairman Choi has previously controlled SK hynix through the holding company SK and its subsidiary SKSQUARE; with this purchase, he now directly holds 3,620 shares of SK hynix common stock.