SEOUL, July 12 (Yonhap) — SK hynix Inc. is expected to inject a large amount of U.S. dollars into South Korea’s foreign exchange market after raising about 40 trillion won (US$26.5 billion) through an American depositary receipt (ADR) offering on Nasdaq, industry sources said Sunday.
The proceeds from the U.S. listing are scheduled to be paid to the company Monday.
Given that SK hynix plans to use most of the funds for domestic investments, including the Yongin semiconductor cluster, much of the dollar-denominated proceeds is expected to be converted into the won, increasing the supply of dollars in the local foreign exchange market.
The inflow is expected to ease pressure on the Korean won, which has remained weak against the dollar amid broad dollar strength and rising overseas investment by Korean companies, according to the sources.
“The size and timing of the foreign exchange transactions have yet to be determined,” an SK hynix official said.
Market experts said the expected inflow is comparable in scale to the dollar liquidity supplied under the $60 billion currency swap deal between the Bank of Korea and the U.S. Federal Reserve during the 2020 COVID-19 market turmoil.
Although the swap line had a $60 billion limit, actual dollar drawings totaled $19.87 billion.
SK Group Chairman Chey Tae-won (C), along with SK hynix Chief Executive Officer (CEO) Kwak Noh-jung (3rd from L) and other senior executives, celebrates at a bell-ringing ceremony in New York on July 10, 2026, to commemorate the company’s high-profile listing, in this image provided by SK hynix. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
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