[Featured Stock] SK Square Hits Record High... Hynix Earnings Expectations and Wave-Tving Merger Becoming Visible

Intraday High of 87,400 KRW Recorded
SK Hynix Major Shareholder, Impact of 'NVIDIA Effect'
Wave-Tving Merger, Expectation for Native 'Gonggi Nori OTT' Giant Emergence

SK Square hit an all-time high during trading. SK Square, the largest shareholder of SK Hynix, appears to have been influenced by a combination of factors including expectations for Hynix's performance, the imminent merger of its subsidiary Wave with TVING, and the possibility of a future merger with SK following SK Group Chairman Chey Tae-won's divorce lawsuit.

As of 10 a.m. on the 7th, SK Square was trading at 86,100 won, up 12.11% (9,300 won) from the previous close. It reached an intraday high of 87,400 won, surpassing the previous all-time high of 87,000 won recorded on the 27th of last month.

SK Square is the largest shareholder of SK Hynix, holding about 20% of its shares. SK Hynix was trading at 203,000 won, up 4.80%, buoyed by the "NVIDIA effect." SK Hynix produces and supplies high-bandwidth memory (HBM) to NVIDIA, making its stock price heavily influenced by NVIDIA's performance. NVIDIA continued its soaring trajectory, reaching a market capitalization of $3 trillion on the 5th (local time). Additionally, there are speculations that SK and SK Square may merge in the future due to the aftermath of Chairman Chey Tae-won's divorce lawsuit.

According to the investment banking (IB) industry, Wave, a subsidiary of SK Square, is likely to complete a merger with TVING as early as this month. It is reported that the two companies are currently finalizing the details of the merger. If the merger is successful, a domestic online video streaming service (OTT) platform capable of competing with Netflix will be created.