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SK hynix CEO paid with W15b incentive stock options

  • PUBLISHED :February 24, 2017 - 16:36
  • UPDATED :February 24, 2017 - 17:20
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[THE INVESTOR] SK Group on Feb. 24 announced it has recently granted incentive stock options, worth 15 billion won (US$13 million), to SK hynix CEO and Vice Chairman Park Sung-wook on the chipmaker’s upbeat sales. 


SK hynix CEO Park Sung-wook (left) poses with an employee at a training session for new workers.


Related: 
SK hynix willing to acquire more stakes in Toshiba: CEO


Park received a total of 298,000 shares in the company. He can exercise stock options in three sessions.

SK Telecom CEO Park Jeong-ho was also awarded with 66,504 shares, worth 1.53 billion won, as stock options.

“SK’s other affiliates also plan to offer stock options to CEOs with aims to ensure their more responsible management,” an SK Group official said.

SK hynix has continued a stock rally in recent months, largely buoyed by soaring memory chip prices. Its stock price reached a record high of 54,900 won on Feb. 1.

The nation’s No. 2 chipmaker sees almost 70 percent of sales in DRAM chips that are used for short-term data storage in smartphones and PCs. The company is more recently beefing up production of NAND chips whose demands are soaring for long-term data storage in cloud, big data and Internet of Things services.

Park, the CEO, on Feb. 23 hinted at the company’s intention to acquire more stakes in Toshiba’s NAND business adding to its earlier 3 trillion won bid for a 20 percent stake in the Japanese chipmaker.

The cash-strapped Toshiba is considering selling some 50 percent of the total shares along with the management control. The bidding price is estimated to surge to 10 trillion won, industry watchers predict.

By Lee Ji-yoon (jylee@heraldcorp.com)
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