SK Hynix Pushes USD/KRW to 1489.80, Lowest in Two Months Amid ADR Currency Conversion

According to Seoul Foreign Exchange Market, SK Hynix sold significant volumes of dollar spot currency today (July 14), pushing the USD/KRW exchange rate to 1489.80 won, its lowest level in two months. The company raised approximately $26.5 billion through its American Depositary Receipt (ADR) listing, with the proceeds set to be sequentially converted for domestic investments.

Market participants expect SK Hynix to execute conversion transactions worth multiple billions of dollars through this week and next, with daily fluctuations likely but cumulative volumes exceeding tens of billions of dollars, according to a foreign exchange market official.