US vs Korea — value per share

One Korean ordinary share, priced two ways, using official depositary ratios only — never inferred from the tape. Korea is the KRX unadjusted close ÷ USD/KRW. The US line is the London GDR or Nasdaq ADS scaled to that same ordinary share. The gap is conversion parity, not a fitted ratio.

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Official ratios: Samsung SMSN.IL 1 GDR = 25 ordinary; SK hynix SKHY 10 ADS = 1 ordinary (F-1 / Nasdaq, listed 10 Jul 2026). Premium uses same UTC calendar-date closes only (no previous-day borrow). Unadjusted prices. FX = Yahoo KRW=X (may fill forward). Not a tradable NAV — ignores depositary fees, taxes, and the KRX/Nasdaq session gap. Data: Yahoo via data.php. Sibling: /skhy.