[51% Arbitrage Opportunity for SK Hynix Blocked Due to Strict Conversion Cap] Deep Tide TechFlow reports that on July 23, one of the world's most attractive arbitrage opportunities remains unattainable. The Korea Securities Depository announced that SK Hynix has set a cap on the conversion of its Korea-listed shares into American Depositary Receipts (ADRs) traded in the U.S. at 2.5% of its total share capital. This news sheds light on a critical issue that investors have been closely monitoring since the company successfully listed in the U.S. The CEO of the Korea Securities Depository stated that the $26.5 billion worth of ADRs issued by SK Hynix on July 10 has already exhausted the conversion limit. This means that unless existing ADR holders first convert their U.S.-traded ADRs back into Korean shares to free up conversion capacity, investors will not be able to exchange Seoul-listed shares for ADRs. SK Hynix has not commented on the matter.