SK hynix edges past Samsung Electronics in common stock market capitalization

SK hynix overtook Samsung Electronics on Monday to become the most valuable company on the Kospi in common stock market capitalization, according to the Korea Exchange.

As of 12:51 p.m. on Monday, SK hynix's market capitalization reached 2.08 quadrillion won ($1.35 trillion), 456 billion won higher than Samsung's market cap.

The surge was driven by growing demand for AI memory chips and ongoing optimism about its competitiveness in high-bandwidth memory (HBM).

The milestone ended Samsung's 25-year reign at the top. Samsung Electronics became Korea's most valuable listed company on Nov. 21, 2000, and had continuously held the No. 1 spot since.

The two chipmakers have emerged as the dominant forces in Korea's stock market amid surging demand for semiconductors driven by the AI boom.

However, SK hynix has significantly outperformed Samsung Electronics in recent months, allowing it to overtake its larger rival on Monday.

As of midday trading on Monday, SK hynix shares were up 5.82 percent, while Samsung Electronics had gained 0.71 percent. Since the beginning of the year, SK hynix shares have surged 341.9 percent, compared with Samsung Electronics' 197.7 percent gain.

Samsung Electronics' combined market capitalization, including its preferred shares, stood at 2.27 quadrillion won, equivalent to about 109 percent of SK hynix's market value.

Analysts attribute the widening performance gap largely to the global stock market's growing focus on semiconductor-related companies amid the AI boom.

SK hynix is more heavily concentrated in memory chips, such as HBM, a key component for AI applications.

Samsung Electronics, by contrast, maintains a more diversified portfolio spanning smartphones and home appliances in addition to semiconductors. Its broader portfolio has diluted the impact of the semiconductor boom on its share price.

Investor expectations surrounding a potential U.S. listing of SK hynix have also supported the surge in its market capitalization.

In March, SK hynix filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission for an American Depositary Receipt (ADR) offering.

An ADR is a financial instrument that allows foreign companies to have their shares traded in the United States, broadening access for global investors.

BY KIM JI-HYE [[email protected]]