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

For the first time in roughly 26 years, Samsung Electronics is not the most valuable company in South Korea. SK Hynix, the memory chipmaker that was trading as a penny stock in 2003, has claimed that title on the back of insatiable demand for AI hardware.

SK Hynix shares rose approximately 5.6% to 5.7% on June 22, pushing its market capitalization to around 2,082 trillion won, or about $1.35 trillion. Samsung’s market cap, excluding preferred shares, sat between 2,066.7 and 2,081.3 trillion won. Samsung noted that including preferred shares would bring its total valuation to roughly 2,252 trillion won, but that’s not how market cap rankings typically work.

From penny stock to king of the hill

Two decades ago, SK Hynix was buried under debt, its shares languishing at around 135 won. Now it’s the world’s most valuable memory chipmaker.

By 2025, SK Hynix had captured approximately 61% of the global HBM market. Samsung held just 17%.

The company crossed the $1 trillion market cap threshold just weeks earlier, on May 27, during a broader AI-driven rally that also saw Micron and Samsung join that exclusive club.

Why AI memory is the real kingmaker

HBM chips stack multiple layers of DRAM vertically, connected by tiny pathways called through-silicon vias, allowing data to move much faster. Every major AI accelerator, from Nvidia’s GPUs to custom silicon at hyperscalers, needs HBM. And SK Hynix has been the dominant supplier.

Samsung reportedly struggled with yield issues on its HBM3E chips, which delayed its ability to secure major orders from Nvidia. The 61%-to-17% market share split reflects the consequence of those delays.

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