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SK Square Co., Ltd.
SK Square is a holding company that owns stakes in chipmaker SK hynix and other tech businesses.
SK Square is a holding company — a company whose main product is ownership stakes in other companies. Its crown jewel is a big chunk of SK hynix, one of the world's largest memory chip makers, whose DRAM and NAND chips go into servers, phones, and AI data centers. SK Square also holds a portfolio of other tech and ICT businesses, from mobile platform and app-store operator ONE Store to various digital and semiconductor-adjacent ventures.
Here's how the money works. SK Square itself doesn't make or sell chips. It earns its keep mainly from its share of SK hynix's profits, plus dividends and gains from managing its other holdings. When the memory chip cycle booms — as it has with the AI-driven demand for high-bandwidth memory — SK Square's value and earnings swell with it. When chip prices crash, they fall together. In practice, buying SK Square is a leveraged, diversified-ish bet on memory chips. The backstory matters. SK Square was born in 2021 when SK Telecom split itself in two: the telecom business stayed put, while the chip and tech investments were bundled into a new listed company. The idea was to unlock value — let investors own the semiconductor assets directly and give management room to invest in new tech. The problem is the classic holding-company discount: the market often values SK Square at less than the sum of its parts, especially its SK hynix stake.
So what does it do with its cash? SK Square has leaned into shareholder returns and new bets — buying back and cancelling shares to shrink the discount, and hunting for growth investments in areas like AI and semiconductors. It's a simple story with a real risk: its fortunes rise and fall with the memory chip market, and its own shareholders are really betting on SK hynix more than anything SK Square does itself.
Saved answer · last researched 12 Nov 2026