SK hynix 265converts billions of dollars, 40supplies trillions of won to the won market

SK hynix plans to convert the 265billion dollars, or about 40trillion won, raised through its listing on Nasdaq in the United States into won in order to carry out investments in South Korea. The funds are slated to be used for domestic investment.

The company said it will allocate the funds raised to domestic investment. The specific timing of the conversion and the allocation scale are expected to be disclosed sequentially through company filings.

The amount raised this time is 265billion dollars, and if converted into won, it could create a large-scale supply of won. For that reason, there is speculation that it may help stabilize the foreign-exchange market.

Market participants say that large-scale dollar selling could affect the won-dollar trend in the short term. However, the degree of impact may vary depending on how the currency exchange is executed.

SK hynix said the company plans to deploy these funds for domestic semiconductor investment-related spending. The specific investment items and schedule must be confirmed later through a disclosure.

Investors and foreign exchange market participants are watching the company’s disclosure regarding currency exchange and the actual execution details. Once the company discloses them, it will be possible to confirm the timing and scale of the won inflow.