SK Securities keeps KRW 1.85 million target for SK Square stock

Published on 10/06/2026 at 05:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue fell 19.20 percent year over year to KRW 329.00 billion in the second quarter. SK Square stock reported KRW 18.70 trillion net income for the same period.

SK Square, KR7402340004, Illustration mit AI erstellt.

SK Square (ISIN KR7402340004) is tied to a KRW 1.85 million target from SK Securities, which maintained its Buy rating on September 30, 2026. The analyst view centers on SK hynix's planned share cancellation and the potential for higher shareholder returns.

Buyback lifts stake value

According to Seoul Economic Daily on September 30, 2026, SK hynix had bought 17.15 million of 24.07 million planned shares, equal to 71.30 percent of the program. The KRW 40.00 trillion buyback is scheduled to run from August 20 to November 19, 2026.

After cancellation, SK Square's stake in SK hynix is expected to rise from 20.00 percent to 20.70 percent. SK Securities estimated potential dividend income of KRW 8.70 trillion if the remaining shareholder-return funds were distributed as dividends, a calculation that gives the holding company a direct link to SK hynix's capital-allocation policy.

Second-quarter profit dominates

SK Square reported KRW 329.00 billion in revenue and KRW 18.70 trillion in net income for the second quarter of 2026, according to ATSView. Revenue fell 19.20 percent year over year, while operating profit reached KRW 19.20 trillion in the same period.

The earnings mix matters because SK Square is an investment holding company whose valuation is heavily influenced by its listed holdings. The buyback catalyst therefore works through two channels: a higher ownership percentage in SK hynix and a possible increase in recurring distributions.

Stock trades near midpoint of range

SK Square was last at KRW 1,161,000 on the Korea Exchange at 11:56 a.m. KST on October 6, 2026. Its market capitalization was KRW 153.0 trillion, while the 52-week range stood at KRW 229,500 to KRW 2,189,000.