SK Hynix has overtaken Samsung Electronics to become South Korea’s most valuable listed company, ending Samsung’s hold on the top spot since 2000. The shift occurred on Monday, driven by demand for SK Hynix’s high-bandwidth memory (HBM) chips used in AI systems.
Shares of SK Hynix closed up 5.6%, taking its market capitalisation to 2,080.4 trillion won. Samsung’s stock eased 0.14% to a market value of 2,066.7 trillion won, excluding preferred shares.
Samsung said any calculation of its market capitalisation should include preferred shares, which would bolster the company’s value at 2,246.4 trillion won.
SK Hynix’s shares have rallied more than 340% this year. The company supplies HBM chips to AI customers, including Nvidia and Google, and held 61% of the global HBM market by 2025, ahead of Samsung’s 17% and Micron’s 21%.
Analysts say Samsung’s position as the world’s largest DRAM producer also faces pressure from SK Hynix, whose output growth rate is projected to outpace Samsung’s between 2025 and 2028, according to Bank of America estimates cited in the report.
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