The chipmaker’s blockbuster US listing signals South Korea’s arrival on the global economic stage, but retail investors should tread carefully, says Shuli Ren for Bloomberg Opinion.

Once on the edge of financial ruin, the South Korean chip giant has rebounded to debut on Wall Street in what is the largest US listing by a foreign company.

SK Hynix raised $26.5 billion in the largest-ever US listing by a foreign company. Jim Cramer sees value at 7x earnings but warns of memory market cycles.