SK Hynix plans $28.6 billion buyback after share price declines

SEOUL: SK Hynix will buy back and cancel 40 trillion won ($28.61 billion) of treasury shares and allocate more than 50% of free cash flow generated between 2025 and 2027 to boost shareholder returns, it said on Wednesday.

The chipmaker’s shares plunged nearly 10% on Wednesday before trimming some losses in post-market trading. The shares hit record highs in June but have since declined, partly on investor concern over the durability of AI spending by U.S. ‌technology companies.