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

According to Odaily, on-chain analyst Ai Yi has reported that there is currently a significant price difference between a certain exchange’s Korean domestic stock and its US ADR, with SKHX priced at approximately $1,303.85 and SKHY priced at approximately $170.61. The maximum price gap reaches about 30.9%, reflecting the US stock market’s strong demand for AI chips and top HBM (High Bandwidth Memory) assets. The analysis suggests that the conversion between the two is one-way; US ADRs can only be cancelled in exchange for Korean common shares, and no one would do this when there is a premium, which is why the price difference exists but cannot be arbitraged away at present.