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Kim Joo-sun, head of AI memory business at SK Hynix (Photo by Yonhap News Agency) |
[Alpha Biz= Kim Young Taek] Shares of SK Hynix, which had been hitting record highs amid the artificial intelligence (AI) semiconductor boom, came under pressure after a senior executive sold a significant portion of his holdings at the stock’s peak.
Kim Joo-sun, who oversees the company’s AI memory business, disclosed that he recently sold 1,000 shares at 2.3285 million won per share, according to a filing with the Financial Supervisory Service on June 10.
The transaction totaled approximately 2.33 billion won in cash.
The timing of the sale has drawn sharp criticism from investors and industry observers. On the same day Kim sold his shares, SK Hynix closed at 2.333 million won—its highest level ever and the first time the stock surpassed the 2.3 million won mark.
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Photo courtesy of Yonhap News |
In effect, the executive overseeing the company’s AI business exited near the peak, securing substantial gains. Following the sale, SK Hynix shares entered a correction phase, falling to around 2.022 million won as of 2 p.m. on June 10.
The move has fueled backlash among retail investors, particularly in online stock forums, where critics argue that such actions by top management could send negative signals to the market and undermine investor confidence.
In response, a company official downplayed the controversy, stating that the transaction was not driven by any specific reason and that executives typically trade shares based on personal circumstances. Kim still holds 2,881 shares of SK Hynix following the sale.
Despite the explanation, criticism persists. Investors have voiced concerns about trust and corporate responsibility, questioning how shareholders can maintain confidence when senior executives sell shares at peak valuations.
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Photo courtesy of Yonhap News |
Alphabiz 김영택 기자(sitory0103@alphabiz.co.kr)
