---
endpoint: analytics
pattern: Technology
status: done
latency_ms: 117135
conversation_id: 0ec8213d-80a1-4063-87bd-e8fd2795e90d
citations: 4
created: 2026-05-31 18:59:27Z
---

# Who are the key shareholders of SK Hynix?

# SK Hynix (000660-KR) — Key Shareholders

The most recent disclosure (FY2025 annual report / 사업보고서, record date **31 Dec 2025**) shows the following 5%-or-greater shareholders of SK Hynix, plus the Employee Stock Ownership Association:

| Shareholder | Shares Held | % Ownership | Note |
|---|---:|---:|---|
| **SK Square Co., Ltd. (에스케이스퀘어㈜)** | 146,115,103 | **20.07%** | Largest shareholder (controlling parent within SK Group) [1] |
| **National Pension Service (국민연금공단)** | 57,439,774 | **7.89%** | Korea's sovereign pension fund [1] |
| **Capital Research and Management Company** | 36,730,947 | **5.05%** | US asset manager (subsidiary of The Capital Group); record date 14 Jan 2026 [2] |
| **BlackRock Fund Advisors** | 36,407,157 | **5.00%** | US asset manager [2] |
| Employee Stock Ownership Association (우리사주조합) | 1,368,631 | 0.19% | [2] |

Total of disclosed 5%+ holders: ~38.0% of the 728M total shares outstanding. The remaining ~62% is held by other institutional investors, foreign passive funds, and retail investors (소액주주).

---

## Structure & Background

**SK Square as the controlling parent (since 2 Nov 2021):**
SK Hynix's largest shareholder used to be SK Telecom (with 20.07%). On **2 November 2021**, SK Telecom underwent a horizontal spin-off (인적분할), and a newly created entity — **SK Square Co., Ltd. (SK스퀘어㈜)** — succeeded the entire SK Hynix stake. Per the FY2025 annual report: "최대주주의 인적분할에 의한 최대주주 변경: 에스케이텔레콤㈜ → 에스케이스퀘어㈜" [3]. SK Square in turn sits inside the SK Group ownership chain (ultimately controlled by Chairman Chey Tae-won and SK Inc.).

**The "20.07%" anchor:**
SK Square's 146,100,000-share block is the legacy stake inherited from SK Telecom's 2012 acquisition of Hynix Semiconductor. Adding the small holdings of related parties (특수관계인) — including registered executives — brings the controlling group to **146,115,103 shares (20.07%)** as of end-2025 [1].

**Foreign institutional holdings have grown:**
Comparing FY2025 disclosure with the mid-2025 (반기보고서, record date 30 Jun 2025) snapshot:

| Holder | Jun 2025 (1H25) | Dec 2025 (FY25) | Change |
|---|---:|---:|---|
| SK Square | 20.07% | 20.07% | flat |
| National Pension Service | 7.35% | 7.89% | +0.54pp |
| Capital Group / Capital Research | 7.23% [4] | 5.05% [2] | re-disclosed under sub-entity |
| BlackRock Fund Advisors | — | 5.00% (new disclosure) | new 5%+ |

Note: The Capital Group's June 2025 7.23% disclosure [4] is at the parent level ("The Capital Group Companies, Inc."), while the December 2025 5.05% disclosure [2] is for the subsidiary "Capital Research and Management Company" — i.e., the reporting filer changed, not necessarily the total economic interest. BlackRock newly crossed the 5% disclosure threshold during 2H 2025 [2].

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## Key Takeaways

1. **Controlling shareholder is SK Square at 20.07%** — a relatively low controlling stake by Korean chaebol standards, which is why governance and any potential SK Group restructuring (e.g., merging SK Square with SK Inc.) periodically becomes a market discussion.
2. **National Pension Service is the second-largest holder at ~7.9%**, consistent with SK Hynix's status as one of Korea's largest market-cap stocks.
3. **Foreign passive money is structurally heavy** — Capital Group and BlackRock together disclosed ~10% in the latest filing [2], reflecting SK Hynix's weight in MSCI Korea and global semiconductor benchmarks (driven by HBM/AI exposure).
4. **Free float is broad** — beyond the ~38% in 5%+ disclosed names, the remaining ~62% includes retail (소액주주) plus institutional holders below the 5% mandatory disclosure threshold.

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**Sources**
[1] SK hynix Inc., Q4 2025 Report (사업보고서, record date 2025-12-31) — 5%+ shareholder table: SK Square 20.07%, NPS 7.89%
[2] SK hynix Inc., Q4 2025 Report (사업보고서) — Capital Research and Management Company 5.05% (filing date 14 Jan 2026); BlackRock Fund Advisors 5.00%; ESOP 0.19%
[3] SK hynix Inc., Q4 2025 Report (사업보고서) — Change of largest shareholder on 2 Nov 2021 from SK Telecom to SK Square via horizontal spin-off
[4] SK hynix 반기보고서 (1H 2025, record date 2025-06-30) — interim disclosure showing The Capital Group Companies, Inc. at 7.23%

## Citations

- [1] **SK hynix Inc., Q4 2025 Report** · external
- [2] **SK hynix Inc., Q4 2025 Report** · external
- [3] **SK hynix Inc., Q4 2025 Report** · external
- [4] **반기보고서 (2025.06)** · external

