In this insight, I provide an updated SoTP valuation analysis of SK Inc (034730 KS) which I proposed as my 2026 High Conviction Idea on 4 December 2025.

My updated sum-of-the parts (SoTP) analysis of SK Inc suggests implied NAV per share of 1,306,335 won per share which represents a 52% upside from current levels.

The biggest change in the valuation of SK Inc is its 32.1% stake in SK Square (402340 KS) which is now worth 80.4 trillion won.