Samsung Electronics and SK hynix are on track to complete a combined 35 trillion won in share buybacks by mid-October, about one month before their originally scheduled end-November deadlines. The earlier completion could create a buying-demand gap and increase volatility in the KOSPI (South Korea's main stock index). As of Sept. 20, Samsung Electronics had bought 39.8 million shares over 20 trading days since Aug. 24, completing 74.69% of its 53,285,968-share target and spending 10.31 trillion won, approximately $7.44 billion. SK hynix had purchased 14.15 million shares over 22 trading days since Aug. 20, or 58.79% of its target, spending 24.39 trillion won. Combined spending reached 34.70 trillion won. Samsung's average daily purchases of about 2 million shares leave roughly 13.49 million shares, which could be completed in six to seven trading days at the current pace. SK hynix has been buying about 650,000 shares daily and has 9.92 million shares remaining, requiring an estimated 15 to 16 trading days. After accounting for the Chuseok holiday and other public holidays, both programs are expected to finish by mid-October. The buybacks have helped buffer the KOSPI against external pressures including high interest rates and prolonged geopolitical conflicts. The index has not triggered a sidecar (temporary volatility trading halt) since Aug. 20, while regulatory measures also supported stability. With trading volumes declining and the index moving within a range, investors are watching whether foreign buyers return. Foreign investors became net buyers in August for the first time in eight months, and recent signs of renewed buying have appeared in the main KOSPI market. Yet U.S. Treasury yields are approaching 5% and the won-dollar exchange rate remains elevated. Analysts expect third-quarter earnings and additional shareholder-return measures to influence the market's next direction. Samsung Electronics is due to pay about 30 trillion won in third-quarter cash dividends, while SK hynix has indicated it may announce further shareholder-return measures. Micron Technology's late-September earnings announcement and Samsung Electronics' preliminary third-quarter results expected in early October are potential turning points that could clarify the semiconductor outlook and help attract foreign capital to Korean equities.