SK Hynix Surpasses Samsung as South Korea’s Most Valuable Company on AI Chip Boom

SK Hynix has overtaken Samsung Electronics to become South Korea’s most valuable listed company, marking a remarkable turnaround for a chipmaker that was once burdened by heavy debt and nearly sold off more than two decades ago.

The company’s shares jumped 5.6% on Monday, lifting its market capitalization to 2,080.4 trillion won ($1.35 trillion), slightly ahead of Samsung’s 2,066.7 trillion won. Samsung noted that including its preferred shares would place its total market value at 2,246.4 trillion won.

High-Bandwidth Memory Chips Fuel Growth

SK Hynix has emerged as a major beneficiary of the artificial intelligence boom thanks to its dominance in high bandwidth memory (HBM) chips, a key component used in AI systems developed by companies such as Nvidia and Google. By 2025, the company held 61% of the global HBM market, compared with Samsung’s 17% and Micron’s 21%.

Analysts say HBM has transformed memory chips from commodity products into essential AI infrastructure. Unlike traditional memory products, HBM is closely integrated with AI processors, creating stronger demand and higher profit margins.

From Near Collapse to Industry Leader

SK Hynix’s rise represents one of South Korea’s biggest corporate turnarounds. The company struggled with debt in the early 2000s and spent years under creditor control after a proposed sale to Micron failed.

After posting a 7.73 trillion won operating loss in 2023 during a memory market downturn, the company rebounded sharply as AI investment accelerated. It reported a record annual operating profit of 23.5 trillion won in 2024.