SK Hynix becomes South Korea’s most valuable listed company leaving Samsung Electronics behind
Samsung Electronics has ruled over the South Korean market for so many years and has been the top listed company in the country since 2000. Well, things have changed this year.
The South Korean chipmaker SK Hynix overtook Samsung Electronics in market value today and has become the most valuable listed company in South Korea.
Reportedly, the shares of SK Hynix closed up 5.6%, lifting its market capitalisation to 2,080.4 trillion won, whereas Samsung’s stock rose 0.14% to give it a market value of 2,066.7 trillion won, excluding preferred shares.
It is said that the emergence of customised AI memory fundamentally changed the industry’s economics and allowed SK Hynix to establish itself as the market leader. SK Hynix, along with rivals Samsung and Micron, is among the only major producers of HBM chips used in advanced AI processors. As per reports, strong demand for AI servers and HBM has directly boosted the company’s earnings prospects and valuation.
Samsung’s shares have risen nearly 200% so far this year, but SK Hynix has overtaken the company with 340% rise over the same period. These results have turned out to be a great milestone achievement for SK Hynix, as in 2002, the company was under debt and was about to be acquired by Micron Technology, but was then left under creditors’ control for years.
Although Samsung is still above SK Hynix in total market capitalisation, once its preferred shares are included.
