SK Hynix overtakes Samsung as South Korea’s top company

SK Hynix has overtaken Samsung as South Korea’s most valuable company, fueled by booming AI chip demand and a dominant HBM market share, ending Samsung’s long-standing leadership.

SK Hynix has surpassed Samsung Electronics to become South Korea’s most valuable listed company, reaching a market capitalization of about $1.35 trillion after its stock soared over 340% this year. This marks the end of Samsung’s decades-long dominance at the top of the Korean stock market. The rapid rise of SK Hynix is driven by surging demand for high-bandwidth memory (HBM) chips, which are vital for AI systems. SK Hynix now holds a commanding 61% share of the global HBM market, far ahead of Samsung’s 17%. These chips are essential for AI hardware, offering faster speeds and lower power consumption, and are used by major clients like Nvidia and Google. With its strong position, SK Hynix is now seen as the leader in AI memory supply and can maintain pricing power. Samsung, while still significant, has lagged in the HBM segment, and the valuation gap may widen if it doesn’t catch up. SK Hynix is also reportedly considering a US listing to expand its investor base.