Samsung Electronics and SK hynix announced record shareholder-return programs but received sharply different market reactions because investors focused on structure, timing and governance rather than headline amounts. Samsung’s expected 90 trillion to 110 trillion won 2026 package, including about 30 trillion won in third-quarter cash dividends and a 15 trillion won treasury-share purchase for employee compensation, disappointed investors because the buyback was not designated for cancellation and the remaining 60 trillion to 80 trillion won was deferred for later decisions. Samsung shares fell 8.70% to 257,000 won on Aug. 24, while short selling reached 1.02 trillion won, or 8.81% of turnover. SK hynix committed to buy back 40 trillion won, approximately $28.9 billion, purchase 24.07 million shares by Nov. 19 and cancel them in full, lifting the stock 12.73% to 1,691,000 won before a later sector-wide pullback. The Korea Corporate Governance Forum subsequently criticized the potential Nasdaq listing of Solidigm, SK hynix’s U.S. NAND subsidiary, arguing that it could expand an existing three-tier overlapping structure into five tiers involving SK Inc., SK Square, SK hynix, a U.S. AI company and Solidigm. The Forum also questioned whether the buyback meaningfully returns capital after SK hynix issued 40 trillion won in ADRs in early July and called for greater disclosure concerning Solidigm CEO Noh Jong-won and a California-based private-equity fund he reportedly established.