What happened
SK Square (402340) climbed roughly +8.93% from the previous close as of the morning of June 23, 2026, with trading volume of about 2.14 million shares. It was one of the most notable movers among large-cap KOSPI names. In pre-market trading, local outlets reported the stock surged around 15% and topped 2.2 million won per share, pushing it close to and past the 2-million-won mark and drawing heavy attention.
Why it rose
The main driver was its tandem rally with SK hynix. SK Square is an investment holding company that owns a large stake in SK hynix, so when hynix shares rise, the value of that stake increases and feeds directly into SK Square’s price. Yonhap News reported that “SK Square, riding hynix, nears 2 million won,” while Seoul Economic Daily noted the stock was “just below 2 million won, following hynix higher.” Korea Economic Daily highlighted that “SK Square rose more than hynix” and pointed to fund inflows into semiconductor-related ETFs that hold the stock at a weight above 20%.
An ETF inclusion theme added fuel. Nongmin Shinmun reported that SK Square was added during a rebalancing of NH-Amundi’s “HANARO Fn K-Semiconductor” ETF, and some outlets discussed potential inclusion in a Samsung AI-semiconductor ETF. When an ETF newly adds a stock, it creates mechanical buying demand that can affect short-term supply and demand.
Background and context
SK Square is classified as an investment holding company for SK Group’s semiconductor and ICT assets. Because the value of its SK hynix stake drives much of its market capitalization, it tends to move in lockstep with hynix whenever expectations around AI-driven memory demand strengthen. Amid recent optimism over demand for high-bandwidth memory (HBM) used in AI servers, SK Square has emerged as an alternative way to gain “hynix exposure.”
Points to keep in mind
Because a holding company’s share price tracks the stock prices of its subsidiaries, SK Square can swing alongside any pullback in hynix. In addition, when a stock jumps by double digits in pre-market trading over a short span, profit-taking can emerge quickly—volatility that deserves a balanced view. This article only explains why the price moved; it does not forecast its future direction.
Disclaimer
This article is market commentary for informational purposes only and is not a recommendation to buy or sell any specific security, nor investment advice. All investment decisions and their consequences are solely your own responsibility. Figures are as of the time of writing (morning of June 23, 2026) and are subject to change with market conditions.
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