South Korea’s corporate landscape has witnessed a major shift. SK Hynix, once a struggling chipmaker burdened by debt, has overtaken Samsung Electronics to become the country’s most valuable listed company.
The milestone reflects how the global artificial intelligence (AI) boom is reshaping the semiconductor industry and creating new winners. SK Hynix has emerged as one of the biggest beneficiaries thanks to its leadership in high-bandwidth memory (HBM) chips, a key component used in advanced AI systems.
SK Hynix’s shares rose strongly on Monday, pushing its market value to about 2,080 trillion won ($1.35 trillion). This allowed it to move ahead of Electronics, whose market capitalisation stood at roughly 2,067 trillion won, reported Reuters.
Samsung had held the title of South Korea’s most valuable listed company since 2000, making the development a significant moment for the country’s technology sector.
The rise of SK Hynix also highlights the changing dynamics within the global semiconductor market, where AI-related demand is increasingly driving growth.
The company has become a leading supplier of HBM chips, which are essential for powering advanced AI applications and data centres.
Unlike traditional memory chips, HBM technology offers faster performance and greater energy efficiency. These features have made it a critical component in AI systems developed by major technology companies around the world.
As investment in AI infrastructure has accelerated, demand for these specialised chips has surged. Investors have responded enthusiastically, helping SK Hynix’s share price rise by more than 340% this year.
The company’s market value now exceeds not only Samsung Electronics but also US-based memory chipmaker Micron.
The achievement marks a remarkable turnaround for SK Hynix.
More than two decades ago, the company was struggling under heavy debt and was close to being sold. At one stage, its shares traded at extremely low levels, and its future appeared uncertain.
The business remained under creditor control for several years before gradually rebuilding its position.
Like many memory chipmakers, SK Hynix experienced periods of rapid growth followed by sharp downturns. As recently as 2023, weak demand and falling memory prices pushed the company into a large annual operating loss.
However, the AI boom dramatically changed its fortunes. Rising demand for advanced memory products helped the company return to profitability and set new earnings records.
Industry analysts credit much of SK Hynix’s success to its decision to continue investing in HBM technology even during difficult market conditions.
While some competitors focused on conventional memory products, SK Hynix expanded its presence in specialised AI memory chips. This strategy has helped it secure a dominant position in a rapidly growing market.
By 2025, the company controlled around 61% of the global HBM market, well ahead of rivals Samsung and Micron.
The strong position has given SK Hynix greater pricing power and strengthened its role in the global AI supply chain.
Samsung remains one of the world’s largest semiconductor manufacturers and continues to dominate several areas of the technology market.
However, analysts believe SK Hynix’s growing strength in AI memory could increase competitive pressure on Samsung in the coming years.
Forecasts suggest SK Hynix is likely to expand its memory production capacity faster than its rival over the next few years. If that happens, the gap between the two companies could narrow significantly.
The shift would be notable because Samsung has traditionally benefited from a much larger manufacturing scale than its competitors.
SK Hynix’s ambitions extend beyond its home market.
The company is reportedly preparing for a US stock market listing on Nasdaq. Such a move could help broaden its investor base and increase its visibility among global investors.
With AI continuing to drive demand for advanced chips, SK Hynix’s rise shows how quickly fortunes can change in the technology industry. A company once known for financial struggles has now become South Korea’s most valuable listed business, powered largely by its early bet on the future of artificial intelligence.