Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

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

October 7 MTD Reply: A Paradoxical Setup for Hynix

Setup Pointing to Hynix (And Samsung) Slowing Their Dollar Selling Pretty Soon

Trading Setup from Samsung and Hynix Timing Buyback Completion Around Litigation Key Dates

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>Sept. 22 Opposition largely recycles the CAC, but its January 2026 customer vetting logic strengthens MTD survival odds, keeping Hynix as the key litigation focus.</li>
<li>The January 2026 customer vetting point makes Hynix’s need to double down on its HBM transition narrative even more critical, potentially strengthening the case for ADR expansion.</li>
<li>Regulatory approval remains key, but political and strategic incentives increasingly support ADR expansion, potentially making Hynix ADR arb a key trade setup from mid October.</li>
</ul>


Sept. 22 Opposition largely recycles the CAC, but its January 2026 customer vetting logic strengthens MTD survival odds, keeping Hynix as the key litigation focus.
The January 2026 customer vetting point makes Hynix’s need to double down on its HBM transition narrative even more critical, potentially strengthening the case for ADR expansion.
Regulatory approval remains key, but political and strategic incentives increasingly support ADR expansion, potentially making Hynix ADR arb a key trade setup from mid October.


Samsung Electronics Pref Shares (005935 KS)

Sept 22 MTD Opposition Raises Oct 21 Survival Odds, Boosting Hynix ADR Expansion Incentive

SK Hynix

Sept 22 MTD Opposition Raises Oct 21 Survival Odds, Boosting Hynix ADR Expansion Incentive