The entrance to SK hynix in Seongnam, south of Seoul. (Image courtesy of Yonhap)
SEOUL, June 24 (Korea Bizwire) — The market capitalization of chip giant SK hynix Inc. surpassed 200 trillion won (US$146.5 billion) for the first time Tuesday amid a rally in the South Korean stock market.
Shares of SK hynix were trading at 278,000 won as of 2 p.m., up 7.13 percent from the previous session.
Its market cap reached 202.4 trillion won, solidifying its position as the second-largest listed company in South Korea after Samsung Electronics Co., whose market cap stood at 355.8 trillion won.
It is the first time that SK hynix has pierced the 200 trillion-won threshold in market value.
The surge came as investors flocked to semiconductor shares following eased tensions in the Middle East. The rally gained momentum after U.S. President Donald Trump announced that Israel and Iran have agreed to a ceasefire to end their conflict.
The broader KOSPI hit the 3,100-point mark in intraday trading for the first time in nearly four years.
SK hynix shares have been on a steady upward trend, fueled by its leadership in the premium high bandwidth memory (HBM) market. The company plans to begin mass production of its sixth-generation HBM4 chips in the second half of this year.
Analysts expect the company’s upbeat momentum to continue, supported by its technological edge in HBM and close ties with major partners, such as Nvidia Corp. and TSMC.
“SK hynix’s leadership in AI chips has been firmly established,” said Ryu Hyung-geun, a researcher at Daishin Securities Co. “It is expected to maintain a dominant market share in HBM4 as well, thanks to its advanced technology and collaboration with key trading partners.”
SK hynix is projected to post 20 trillion won in sales for the second quarter, up 22.5 percent from a year earlier, with operating profit estimated to reach 8.9 trillion won, up 64 percent.
(Yonhap)
