Samsung Electronics and SK hynix, often referred to as the “flagship stocks” of the Korean stock market (Yonhap)
SEOUL, Nov. 13 (Korea Bizwire) — Forecasts for Samsung Electronics and SK hynix are soaring at an unprecedented pace, with analysts projecting that the two chipmakers could generate nearly half of all corporate operating profits on South Korea’s benchmark Kospi index next year, fueled by the global boom in artificial intelligence.
According to financial data provider Yonhap Infomax, the combined consensus operating profit estimate for 194 Kospi-listed companies with at least three analyst forecasts over the past three months stands at 335.7 trillion won for 2026, up 46 percent from this year’s projected total of 229.9 trillion won.
Samsung and SK hynix alone are expected to account for almost half of that figure. As of November 12, Samsung’s 2026 operating profit consensus reached 75.9 trillion won—nearly double the 38.5 trillion won forecast just two months earlier. Korea Investment & Securities projected the figure could climb as high as 94.9 trillion won, approaching the symbolic 100 trillion won mark.
SK hynix has seen a similarly dramatic surge, with its 2026 consensus forecast jumping 70 percent in just two months, from 41.4 trillion won in early September to 70.2 trillion won in mid-November.
Dealers work at Hana Bank’s headquarters trading room in Seoul on November 12, as the benchmark Kospi closed at 4,150.39, up 44.00 points, or 1.07 percent, from the previous session. (Yonhap)
Together, the two semiconductor giants are projected to post a combined 146.1 trillion won in operating profit for 2026—43.5 percent of all estimated profits among the 194 companies surveyed. That share has grown sharply from 34.7 percent this year, underscoring the dominance of Korea’s semiconductor sector in the national economy.
Analysts attribute the surge to the explosive demand for AI servers and high-performance chips, which has outpaced production capacity. “We are seeing a powerful upward revision in profit forecasts, far exceeding the gains in the semiconductor index,” said Lee Kyung-soo, an analyst at Hana Securities. “The current momentum is even stronger than during the 2017–2018 semiconductor supercycle.”
Other experts expect profit margins to widen further as chip prices rise amid tight supply. “2026 will be a year of semiconductor shortage,” said Son In-jun of Heungkuk Securities. “The spread of AI inference services is increasing workloads not only for GPU-based AI servers but also for CPU-based general servers.”
Chae Min-sook of Korea Investment & Securities added, “Average selling prices will continue to rise due to persistent supply shortages, while the expansion of high-bandwidth memory (HBM) sales will sharply boost profitability. The AI-driven memory upcycle has only just begun.”
Ashley Song (ashley@koreabizwire.com)
