SK Hynix is likely to announce a new share buyback program in the fourth quarter, with S&P Global Market Intelligence estimating a size of 20 trillion to 40 trillion won, or approximately $28 billion. The forecast comes after the company completed a 40 trillion won buyback and cancellation program and committed to returning more than 50% of free cash flow to shareholders. Strong demand for AI memory chips has tightened global supply, supporting elevated prices, shipment volumes and cash generation. SK Hynix American Depositary Receipts surged more than 6% to close at $187.99, while Seoul-listed shares rose as much as 5% and a Hong Kong-listed 2X leveraged product gained more than 8% intraday. The expected buyback also strengthens South Korea's Corporate Value-up program, alongside Samsung Electronics' cancellation of more than 87 million treasury shares and its large dividend plan.