Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>In this insight, I discuss the alpha generation through companies that announced share buybacks in the Korean stock market in August and September 2026.</li>
<li>This insights provides a list of 43 companies in the Korean stock market that have announced share buyback programs in August and September 2026.</li>
<li>There were seven companies with more than 300 billion won in market cap that announced share buybacks in the past two months with at least 1% of outstanding shares.</li>
</ul>


In this insight, I discuss the alpha generation through companies that announced share buybacks in the Korean stock market in August and September 2026.
This insights provides a list of 43 companies in the Korean stock market that have announced share buyback programs in August and September 2026.
There were seven companies with more than 300 billion won in market cap that announced share buybacks in the past two months with at least 1% of outstanding shares.


Alpha Generation Through Share Buybacks in Korea: Bi-Monthly (August & September 2026)

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

<ul>
<li>For memory swing traders, October 7’s MTD reply is the key catalyst, with Hynix potentially front running it by disclosing HBM customer commitments and 2027 capacity allocation.</li>
<li>Samsung’s HBM capacity messaging strengthens the supply trade off case, while Hynix could go further with customer commitments and allocation data to support an AI driven capacity reallocation narrative.</li>
<li>For Hynix, hard 2027 HBM capacity numbers or incremental customer commitments would matter far more than another generic capacity update, potentially driving estimates and near term share price volatility higher.</li>
</ul>


For memory swing traders, October 7’s MTD reply is the key catalyst, with Hynix potentially front running it by disclosing HBM customer commitments and 2027 capacity allocation.
Samsung’s HBM capacity messaging strengthens the supply trade off case, while Hynix could go further with customer commitments and allocation data to support an AI driven capacity reallocation narrative.
For Hynix, hard 2027 HBM capacity numbers or incremental customer commitments would matter far more than another generic capacity update, potentially driving estimates and near term share price volatility higher.


Hynix Could Follow Samsung With Key Disclosure Ahead of Oct 7 MTD Reply

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>Panic set in on Monday as <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> fell -5.05%. The stock has been decelerating in the last few weeks, as discussed <a href="https://www.smartkarma.com/insights/sk-hynix-000660-ks-tactical-update-ahead-of-sep-22-s-mtd-opposition-deadline" target="_blank" rel="noopener">here</a>, so this is not surprising. </li>
<li>Bypassing narrative commentary on the sell-off, we focus strictly on tactical execution and portfolio positioning.</li>
<li>Our model's support price zones have been updated since our <a href="https://www.smartkarma.com/insights/sk-hynix-000660-ks-tactical-update-ahead-of-sep-22-s-mtd-opposition-deadline" target="_blank" rel="noopener">latest SK Hynix insight</a> so here is a fresh view: <strong>how much can SK Hynix fall and where to buy?</strong>
</li>
</ul>


Panic set in on Monday as SK Hynix (000660 KS) fell -5.05%. The stock has been decelerating in the last few weeks, as discussed here, so this is not surprising. 
Bypassing narrative commentary on the sell-off, we focus strictly on tactical execution and portfolio positioning.
Our model's support price zones have been updated since our latest SK Hynix insight so here is a fresh view: how much can SK Hynix fall and where to buy?



SK Hynix (000660 KS) -5% Drop: Tactical Positioning Beyond the Noise

Equity Long-Short

Mo Aziz

Equity Bottom-Up

<ul>
<li>Reuters: Solidigm weighs IPO up to $150bn, ~$15bn raise, 2027 listing — 4x the KRW50T figure our August stub-value thesis modeled, but single-sourced and unfiled.</li>
<li>Re-Run SOTP: Solidigm optionality lifts Fair Value by ₩324,000/share to ₩3,024,000, up 12% from our current TP of ₩2,700,000.</li>
<li>We keep our  Fair Value unchanged. This confirms our 40%-probability base case rather than surprising it. The SKHY rose by ~3% on Friday, a good sign it will rise today. </li>
</ul>


Reuters: Solidigm weighs IPO up to $150bn, ~$15bn raise, 2027 listing — 4x the KRW50T figure our August stub-value thesis modeled, but single-sourced and unfiled.
Re-Run SOTP: Solidigm optionality lifts Fair Value by ₩324,000/share to ₩3,024,000, up 12% from our current TP of ₩2,700,000.
We keep our  Fair Value unchanged. This confirms our 40%-probability base case rather than surprising it. The SKHY rose by ~3% on Friday, a good sign it will rise today. 


SK HYNIX (000660 KS / SKHY US):  Solidigm's Value Just Quadrupled, According to Reuters

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK hynix (000660 KS)</a> gained 11.2% in September MTD and its 2x Leveraged Index rose 20.9%, but combined AUM increased only 10% as redemptions offset performance.</li>
<li>Units outstanding fell across all seven long leveraged ETFs. In contrast, units in the inverse product more than doubled and its market capitalisation rose 56%, despite negative performance.</li>
<li>Annualised 21-day volatility more than halved from its late-July peak of 179% to 55%. The decline coincided with the collapse in ETF trading activity and fund flows following regulatory changes.</li>
</ul>



SK hynix (000660 KS) gained 11.2% in September MTD and its 2x Leveraged Index rose 20.9%, but combined AUM increased only 10% as redemptions offset performance.
Units outstanding fell across all seven long leveraged ETFs. In contrast, units in the inverse product more than doubled and its market capitalisation rose 56%, despite negative performance.
Annualised 21-day volatility more than halved from its late-July peak of 179% to 55%. The decline coincided with the collapse in ETF trading activity and fund flows following regulatory changes.


SK Hynix (000660 KS): Volatility Falls to 55% as Leveraged ETF Activity Fades

South Korea

SK Hynix Inc. provides products and services for the electronic components industry. The Company manufactures semiconductors, such as dynamic random access memory (DRAM), NAND flash memory, and static random access memory (SRAM) chips.

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SK Hynix (000660 KS)

Hynix Could Follow Samsung With Key Disclosure Ahead of Oct 7 MTD Reply

Hynix, following Samsung yesterday, could disclose key business details as part of the pre MTD buildup ahead of the October 7 reply.

Sanghyun Park