Heungkuk Asset Management Withdraws SK Hynix Shareholder Letter Within One Day

Heungkuk Asset Management 8day after sending the shareholder letter on mid- to long-term investment to SK Hynix, withdrew it just 9day later. The company explained that the letter was not the official position of Heungkuk Asset Management but the personal opinion of the head of its equity investment division.

The company stated in an official position on 9that it had "confirmed that the head of the equity investment division sent the letter by email to an SK Hynix IR representative on the previous 8afternoon." After reviewing the nature of the letter and the circumstances of its dispatch, it determined that the letter differed from the company's position.

Heungkuk Asset Management said it withdrew the letter after reviewing its contents and determining that some portions were inappropriate. The company made clear that the letter represented a personal opinion that had not gone through Heungkuk Asset Management's official decision-making process.

The specific contents of the letter and SK hynix’s additional response were not disclosed until the company or Heungkuk Asset Management issues an additional disclosure.

The facts confirmed so far are that Heungkuk Asset Management sent the letter by email8and that the company withdrew it.9The situation may change if either side makes an additional announcement.