SK hynix posts record profit as Korea's chip giants surge

Korea’s two chip giants had their best day in weeks on Oct 28, the day SK hynix reported results. A day before its own earnings call, Samsung Electronics faced pressure over its preferred shares, and its chairman’s stock purchases drew notice.

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A record quarter, a large repurchase and a 10.89% jump

SK hynix’s preliminary third-quarter filing on Oct 28 showed operating profit of 83.334 trillion won (about US$62.3 billion). That was 632.1% above a year earlier and 37.6% above the second quarter, the highest for any quarter since at least April-June 2025. Revenue reached 104.615 trillion won (about US$78.2 billion), up 327.9% on the year and 31.9% on the quarter.

The board also approved a repurchase of 14,920,000 common shares worth 20.008 trillion won (about US$15.0 billion). It runs from Oct 29 to Jan 28, 2027, to support shareholder value and fund employee stock pay. A quarterly dividend of 20,000 won a share goes to holders of record on Nov 30.

The stock closed 10.89% higher at 1,487,000 won. The TIGER 200 ETF gained 7.5%. It was SK hynix’s biggest one-day rise since Aug 20. JoongAng Daily credited the sector’s surge to the record figures and the payout plan. Samsung Electronics added 9.01% to 242,000 won. The KOSPI finished 6.63% higher at 6,012.44, back over 6,000.

Activist funds press Samsung over its preferred stock

Samsung’s preferred shares, a separately listed class of its stock, jumped 8% on the morning of Oct 28, Seoul Economic Daily reported. Activist funds were calling on the company to repurchase them. The same outlet said the price gap between the preferred and the common shares had grown wider than its three-year average.

Samsung’s current repurchase program was approved on Aug 21. It covers 53,285,968 common shares worth about 15 trillion won (about US$11.2 billion), and the shares are meant for employee stock pay. The program ends Nov 21.

Samsung holds its third-quarter earnings conference call on Oct 29 at 10:00 a.m. Korea time.

Lee Jae-yong leads the heirs in stock purchases

Samsung Electronics Chairman Lee Jae-yong has made net share acquisitions worth nearly 5 trillion won (about US$3.7 billion) this year. That figure was reported by The Chosun Daily, BusinessKorea and Chosunbiz. It is the most of any owner family at South Korea’s major conglomerates, the family-run groups known as chaebol.

Chosunbiz reported that heirs at other big chaebol are also adding to their stock purchases, with Lee out in front of his peers. Lee recently marked four years as Samsung’s chairman.

Samsung Wallet Money now works abroad

Woori Bank said on Wednesday, Oct 28, that Samsung Wallet Money can now be used outside Korea. The prepaid payment service is run by the bank together with Samsung Electronics. Galaxy phone owners can pay overseas without first downloading a local payment app, The Korea Times, The Korea Herald and Maeil Business Newspaper reported.

The Chosun Daily said the service reaches 210 countries, among them the U.S., Japan and countries in Europe.

Woori Bank CEO Jung Jin-wan spoke at a press briefing, according to The Korea Herald and Maeil Business Newspaper. He said travelers need nothing beyond Samsung Wallet: no plastic card, no other app and no foreign cash changed ahead of a trip.

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Information only, not investment advice.