천문학적 이익·‘억’ 소리 성과급…삼전닉스, 주주 환원은?

South Korean semiconductor companies Samsung Electronics and SK Hynix, which are among the main investors, have been experiencing a lack of satisfaction among their shareholders recently. While the companies have recorded astronomical profits due to the semiconductor supercycle, they have not provided any plans for returning value to shareholders.

Industry sources report that both Samsung Electronics and SK Hynix are internally reviewing additional shareholder return options, with SK Hynix likely to announce a detailed plan within the next few months. Both companies already have a three-year shareholder return plan in place, with Samsung Electronics committing to paying out 50% of its surplus cash flow as regular dividends, and SK Hynix offering a fixed quarterly dividend of 1,500 won per share based on its surplus cash flow.

The application period for these plans is until the end of this year for Samsung Electronics and next year for SK Hynix. However, the issue arises from the fact that declining memory profits in the second half of last year led to increased calls for additional dividend payouts and company buybacks. Both companies had previously agreed to pay out a significant portion of their operating income as performance bonuses to employees, further exacerbating the discontent among shareholders.

SK Hynix's chairman, Cho Hyun-wook, even purchased 49 billion won worth of the company's shares during a downturn last month and directly intervened in the stock market to support the share price. In contrast, the company has shown a more passive approach toward shareholder returns. When asked about a shareholder return plan during a recent earnings call, Cho responded that disclosing new important information in the U.S. listing process would impose certain limitations.

Despite this, SK Hynix has actively communicated with the market by delisting and re-listing on the U.S. stock exchange and buying back shares, but has not taken any subsequent action. A research center chief requested to remain anonymous commented that while SK Hynix tried to address market expectations by delisting and re-listing on the U.S. stock exchange, it has failed to follow up with a proper plan, which is disappointing.

In contrast, Japanese memory chip company Kyocera announced a buyback of up to 8 trillion yen and a stock split last month in an effort to appease shareholders, showing a different approach.