What happened
SK Inc. (034730.KS), the holding company of South Korea's second-largest conglomerate SK Group, reported first-quarter 2026 consolidated revenue of ₩36.7513 trillion ($26.8 billion) and operating profit of ₩3.6731 trillion ($2.68 billion), up 19% and 760% year-on-year respectively, according to a company disclosure cited by Chosun Biz and confirmed in English by Seoul Economic Daily. Net debt fell 21% to ₩49.5543 trillion ($36.2 billion) from ₩63.0231 trillion ($46.0 billion) a year earlier, and the consolidated debt-to-equity ratio dropped to 135.7% from 172.8%.
Hours after the disclosure, NH Investment & Securities, one of Korea's top-five brokerages, raised its 12-month target price on SK Inc. to ₩750,000 ($547) from ₩465,000 ($339) — a 61% hike — while maintaining a Buy rating, per the NH research note relayed by Chosun Biz. SK Inc. closed the prior session at ₩503,000 ($367).
How much of the 760% is real?
The question for any holdco watcher: is a ninefold operating-profit jump a sustainable rerating signal or a cyclical print that fades with the memory cycle? The Chosun Biz report and NH's note point to two distinct drivers.
