SK Hynix Plans to List ADRs as Early as July, Targeting $66 Billion Shareholder Return

SK Hynix Inc. is deepening its role with Nvidia Corp., moving from a key memory supplier to a full-fledged strategic partner. The company is considering issuing new shares to back up its plan to list American depositary receipts (ADRs) in the US.

SK Hynix's first-quarter operating profit came in more than five times higher than a year earlier, with a record operating profit of 37.61 trillion won ($25.4 billion). The company is looking to expand its artificial intelligence semiconductor business.

SK Group Chairman Chey Tae-won warned that global memory chip supply will remain about 20% below demand through 2030. SK Hynix Inc. will announce a significant investment plan to address this issue and support its growth in the AI semiconductor market.