SK Hynix ADR rose more than 5% before the market opened, and the issuance limit has been reached, closing the exchange channel

On July 23rd, SK Hynix ADR rose over 5% in pre-market trading in the US stock market, reaching $173.75. The South Korean securities regulatory agency stated that SK Hynix has set the upper limit of the proportion of Korean stocks converted into ADRs at 2.5% of the total share capital. The CEO of a Korean securities depositary institution stated that the $26.5 billion ADR issued by SK Hynix on July 10th has exhausted its issuance limit, and investors are unable to convert Seoul listed stocks into ADRs.