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%.
