SK Hynix overtakes Samsung as South Korea’s most valuable company

SK Hynix briefly surpassed Samsung Electronics in market value Monday for the first time since 2000, according to Reuters.channelnewsasia
SK Hynix dominates the high-bandwidth memory chip market powering AI systems for Nvidia ↘3.76% and Google ↘0.82%, holding roughly 58–62% global HBM share.sbnmediastudio
SK Hynix shares have surged more than 340% in 2026, and the SEC is expected to approve the company’s U.S. listing as soon as this week.usnews

SK Hynix Overtakes Samsung as South Korea’s Most Valuable Company

SK Hynix on Monday surpassed Samsung Electronics to become South Korea’s most valuable listed company, ending Samsung’s 26-year reign at the top and marking one of the most dramatic corporate reversals in Asian market history.

Shares of SK Hynix rose 5.7% during Monday’s session, lifting its market capitalization to 2,082.5 trillion won ($1.35 trillion), compared with Samsung’s 2,081.3 trillion won excluding preferred shares, according to Reuters. Samsung had held the top spot since 2000.channelnewsasia

AI Memory Demand Reshapes the Hierarchy

The overtaking reflects SK Hynix’s dominance in high-bandwidth memory chips, a critical component powering artificial intelligence data centers for customers including Nvidia and Google. SK Hynix commands roughly 58 to 62 percent of the global HBM market, far ahead of Samsung’s roughly 17 to 21 percent and Micron at about 21 percent, according to TrendForce data.sbnmediastudio

SK Hynix shares have surged more than 340% in 2026, vastly outpacing Samsung’s approximately 200% gain over the same period. The rally accelerated after SK Hynix crossed the $1 trillion market-cap threshold in late May, joining Samsung and Micron in achieving that milestone within weeks of each other.reuters

A Turnaround Story Decades in the Making

Reuters described Monday’s event as “a dramatic reversal of fortunes for a chipmaker that two decades ago nearly collapsed under debt”. SK Hynix, formerly Hyundai Electronics, required government-backed restructuring in the early 2000s before being acquired by SK Group.investing

The company’s ascent has been propelled by what analysts call a semiconductor “supercycle.” The HBM market is estimated at $54.6 billion in 2026, up 58% from the prior year, according to industry data. SK Hynix was first to mass-produce HBM3E chips and has secured the majority of Nvidia’s supply contracts.chosun

What Comes Next

The Kospi has soared roughly 95% in 2026, buoyed by the memory chip rally. The SEC is expected to approve SK Hynix’s application to list in the United States as soon as this week, a move that could further widen the valuation gap. Nikkei Asia reported Monday’s milestone marked “the first occasion in 26 years that Samsung has been displaced from its top position”.yahoo