Why Americans pay 41% more for SK Hynix shares than Koreans

On September 30, SK Hynix’s American depositary shares closed at US$184.15 on the Nasdaq. Earlier that day in Seoul, one ordinary share closed at 1,776,000 won, about $1,308.80. Ten ADSs represent one Seoul share, so each ADS’s slice was worth about $130.88. Comparing those two closing prices gives the ADSs a 40.7% premium. The markets
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