SK Hynix US ADR premium exceeds 30%, valuation divergence between "Korea Hynix" and "Global Hynix" emerges

According to Odaily Planet Daily, on-chain analyst Ai Yi reports that there is currently a significant price gap between SK Hynix's domestic Korean stock and its US ADR. SKHX is priced at approximately $1,303.85, while SKHY is priced at approximately $170.61, with the price difference reaching up to about 30.9%. This reflects strong demand from US market funds for AI chip and HBM (High Bandwidth Memory) leader assets. Analysis suggests that the conversion between the two is one-way, as US ADRs can only be cancelled and exchanged back for Korean common shares. However, during a premium period, no one would do this, which is why the price gap exists but cannot be arbitraged away.