SK Hynix market cap surpasses Samsung Electronics, becomes Korea's most valuable company

SEOUL, South Korea (CNA) - South Korean memory chip giant SK Hynix's stock price rose more than 5% during intraday trading today, briefly surpassing Samsung Electronics in market capitalization and becoming the most valuable company in South Korea.

According to Reuters, as of 11:47 AM Taiwan time today, SK Hynix's stock price had risen 5.7%, bringing its market capitalization to 208.25 trillion Korean won. In comparison, Samsung Electronics, which has been Korea's most valuable company since 2000, saw its stock price rise 0.4% to a market capitalization of 208.13 trillion Korean won.

Korean chip manufacturers have recently achieved record profits, mainly benefiting from the surge in demand and tight supply of memory chips, leading to soaring prices, as major US tech giants race to build artificial intelligence (AI) data centers.

Year-to-date, SK Hynix's stock price has risen by over 340%, surpassing Samsung Electronics' 200% gain.

Driven by the AI boom, SK Hynix, along with competitors Samsung Electronics and Micron Technology, broke the $1 trillion market cap mark for the first time in May. (Compiled by Chang Ming-hsuan) 1150622

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