SK Securities maintained its buy rating and 1.85 million won target price for SK Square, implying 65.5% upside from the previous close of 1.118 million won. The brokerage said SK Square could benefit as SK hynix repurchases and cancels shares, raising SK Square’s stake from 20.0% to 20.7%. SK hynix had completed 71.3% of its 24.07 million-share, 40 trillion-won buyback by the 29th, putting completion around mid-October at the current pace. SK Securities also estimated that SK Square could receive 8.7 trillion won in dividends if SK hynix distributes the remaining funds from its shareholder-return plan, potentially enabling about 2.6 trillion won in SK Square shareholder returns under its 30% payout policy.