SK Hynix overtakes Samsung to become South Korea’s most valuable company
Key takeaways
- SK Hynix focuses primarily on memory chips, whereas Samsung Electronics also manufactures logic chips and consumer electronics such as smartphones and TVs.
- “The emergence of customised AI memory fundamentally changed the industry’s economics and allowed SK Hynix to establish itself as the market leader,” said Kim Sunwoo, a senior analyst at Meritz Securities.
- Samsung said in a statement that any calculation of its market capitalisation should include preferred shares, which would bring the value to around 2,252 trillion won.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize SEOUL: SK Hynix on Monday overtook Samsung Electronics to become South Korea’s most valuable listed company, marking a dramatic reversal of fortunes for a chipmaker that, two decades ago, nearly collapsed under debt.
The company, now the dominant supplier of high-bandwidth memory (HBM) chips used in AI systems for customers such as Nvidia and Alphabet’s Google, has emerged as one of the biggest beneficiaries of the global AI boom, propelling a more than 340% rally in its shares this year and lifting its market value above both Samsung Electronics and Micron.
Shares of SK Hynix, now the world’s most valuable memory chipmaker, traded up 5.7% to bring the company’s market capitalisation to 2,082.5 trillion won ($1.35 trillion) as of 0347 GMT, compared with gains of 0.4% in Samsung Electronics to 2,081.3 trillion won, excluding preferred shares.