SK Square NAV Tracker

402340 · KOSPI · KRW
VALUATION AS OF —
Reading the spreadsheet…

Today, SK Square is primarily an SK Hynix proxy, with — of NAV in Hynix.

However, it trades at a — discount to NAV.

This site tracks the NAV discount over time and structural catalysts that may influence the NAV discount going forward.

NAV / SHARE 01
Published asset value
SHARE PRICE 02
—
Price used by the issuer
PRICE / NAV 03
—
— discount to NAV
HYNIX / NAV 04
—
Share of published NAV
1Y RETURN GAP 05
—
SK Square (—) − SK Hynix (—)
Price returns · matching dates

1. Value

NAV / shareShare price
—
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KRW per share. Historical NAV is reconstructed where an official observation is unavailable. Hover, tap or use the arrow keys to inspect.

Price / NAV

NAV discount = 1 − price / NAV.

The horizontal 70% line corresponds to management’s target of a NAV discount below 30% by 2028. Vertical lines mark the disclosures in Catalysts. Hover or pin a catalyst to highlight its date across all charts.

3. Composition

Hynix’s share of NAV over time

ESTIMATES + OFFICIAL SNAPSHOT

NAV composition uses the latest company snapshot. Historical Hynix exposure is omitted where the price and NAV inputs do not reconcile.

4. Scenarios

Calculator

Set the change in Hynix stake value and the future price / NAV ratio. Other assets, net cash and Square’s share count are held constant.

−50%+100%
20%100%
ILLUSTRATIVE SHARE PRICE
—
—
Implied NAV / share
—
Future discount
—

Mechanical sensitivity. No probability, time horizon, dividend, tax or currency return is assumed.

Sensitivity table

Illustrative share-price return versus the current issuer price. Columns: future price/NAV. Rows: change in the Hynix stake value.

5. Sources

Official figures and reconstructed history

The latest NAV/share, total NAV, Hynix stake value and price come from the company snapshot in the Sheet. Historical NAV is the available share price divided by price/NAV; it is an estimate when the price feed differs from the issuer’s price. The issuer’s daily discount is converted to price/NAV by subtracting it from 100%.

Dates, gaps and share counts

Only available observations are plotted. Sparse observations stay sparse; they are not presented as daily NAV. Missing or inconsistent exposure is left blank. The calculation uses the Sheet’s dated holdings and share-count inputs. All prices are in KRW; source dates use Korea time.

One-year price-return comparison

Closing-price returns from the Sheet’s Naver price history, measured over matching dates. The return gap is SK Square’s return minus SK Hynix’s return, in percentage points.

The scenario calculation

Future NAV/share = current NAV/share × (1 + Hynix share of NAV × Hynix value change). Future price = future NAV/share × future price/NAV. Other assets, net cash and share count are constant. These are sensitivities, not price forecasts.

Spreadsheet connection and freshness

Reading connection status…

Source spreadsheetSK Square NAV2026 shareholder letter