One month ahead of schedule, SK Hynix completed a KRW 40 trillion stock buyback.

Following Samsung Electronics, SK Hynix's large-scale share buyback also concluded on the 21st.

On Wednesday, according to Yonhap News Agency citing SK Hynix, the company completed a two-month share buyback totaling 4 trillion KRW on the same day.

As of press time, SK Hynix ADR is up 2.24%.

Previously, SK Hynix announced it would spend 4.00434 trillion KRW to repurchase 24.07 million shares of company stock, with all shares to be cancelled upon completion.

This repurchase accounts for about 3.3% of the company's total outstanding shares, setting a record for share buyback and cancellation among listed companies in Korea.

SK Hynix initially planned to implement the buyback from August 20 to November 19, but ultimately completed it about a month ahead of schedule.

Before SK Hynix, Samsung Electronics also spent about 1.5 trillion KRW to repurchase 56.85 million shares between August 24 and October 6.

With the buyback programs of both Korean semiconductor giants concluded, the two key forces that provided crucial buy-side support to the Korean stock market during significant foreign sell-offs have both ended their buyback actions.

SK Hynix plans to announce its third-quarter results on the 28th of this month, and will also disclose an additional shareholder return plan then.