[Edaily Reporter kyoungeun kim ] SK hynix(000660)As controversy over a potential dual listing involving SK Hynix’s U.S. subsidiary Solidigm intensifies, stock prices of major listed companies within the SK Group are plummeting across the board. Following the financial authorities’ ruling the previous day that Solidigm’s planned IPO violates dual-listing regulations, concerns that existing shareholders’ interests may be harmed are weighing on investor sentiment.

According to MP Doctor on the 20th, as of 10:22 a.m., SK hynix is trading at 1,204,000 won, down 73,000 won (-5.72%) from the previous trading day. During the session, the stock briefly fell to the 1.18 million won range, breaking below the 1.2 million won mark.
At the same time, SamsungElectronics was trading at 211,250 won, down 6,750 won (-3.10%) from the previous day, with leading semiconductor stocks showing a broad decline. As the domestic stock market as a whole is showing weakness—with the KOSPI falling more than 4% early in the session—the decline in semiconductor stocks is particularly pronounced.
The recent controversy surrounding Solidym’s planned listing on the U.S. stock market is seen as a factor weighing on investor sentiment toward the group’s stocks as a whole. Solidym is a company launched after SK hynix acquired Intel’s NAND flash and solid-state drive (SSD) businesses. According to foreign media reports, Solidigm has selected Goldman Sachs and Morgan Stanley as lead underwriters for its initial public offering (IPO) and is reportedly considering a listing next year. Concerns have been raised that the value of existing shareholders’ stakes could be diluted in the process of raising external capital through the subsidiary’s IPO, which appears to be weighing on SK hynix’s corporate value.
Financial regulators have also officially raised concerns about the issue of dual listings. Lee Chan-jin, Chairman of the Financial Supervisory Service (FSS), stated during a parliamentary audit by the National Assembly’s Political Affairs Committee the previous day regarding Solidym’s planned listing, “Both the Financial Services Commission (FSC) and the FSS have determined that this violates the rules on dual listings.” However, he explained that an authoritative interpretation is needed to determine whether the listing of an overseas subsidiary falls under the scope of domestic securities registration statement reviews. Chairman Lee indicated that he would continue to monitor the matter, take appropriate measures, and convey these concerns to SK hynix.
With the authorities publicly raising the issue of dual listing, uncertainty surrounding Solidym’s listing plans has grown. Despite expectations that a U.S. stock market listing could secure substantial investment funds, the potential infringement on existing shareholders’ interests has emerged as a key issue; consequently, the financial authorities’ decision and SK hynix’s response are seen as critical to the outcome.