SK hynix approved two new memory fabs at one board meeting, and the pair together come to 45 percent of the company's entire equity

The board met once and approved two fabs.

SK hynix told the Securities and Exchange Commission on Friday morning that its directors had signed off on 35,224,600,000,000 won for the construction of Fab 2 at the Yongin Semiconductor Cluster, phases 1 through 6, and 19,100,000,000,000 won for a fab called M17 at Cheongju. The two filings landed under two minutes apart. Both give the same stated purpose, word for word: securing mid- to long-term production capacity in response to demand for memory semiconductors.

The scale is in the filings themselves

Korean disclosure rules make a company measure a large investment against its own equity, and that is the number worth reading. SK hynix reported total equity of 120,666,750,890,698 won at the end of December 2025. The Yongin approval is 29.19 percent of it. The Cheongju approval is 15.83 percent.

Together they come to 54,324,600,000,000 won, or 45.02 percent.

Both filings also record that the company is a large-scale corporation for the purposes of the rule, that six independent directors were present, and that none was absent.

Two clocks, and neither is short

The Cheongju build starts on 7 August 2026 and ends on 30 April 2031. Yongin starts the same day and ends on 31 October 2031, six months later, despite being the larger of the two. Nothing in either document explains the sequencing, and nothing in either states a spending profile, a funding source or an output figure.

What the same meeting also did

The board declared a second-quarter dividend of 375 won a common share, with a record date of 31 August and no payment date given, for a total of 273,324,801,750 won. The filing puts the market dividend rate at 0.02 percent. Set against the capital approved in the same sitting, the dividend is roughly half of one percent of it.

The directors also cleared the disposal of 82 treasury shares, at 1,495,000 won each, to pay their own independent members. That comes to 122,590,000 won, disposed between 8 August and 7 September through SK Securities. It is the smallest of the four decisions the board filed on Friday, and it went in under the same cover as the largest.