SK Hynix Overtakes Samsung Electronics as Top KOSPI Stock by Market Cap for First Time in 25 Years

SK Hynix has surged during intraday trading to surpass Samsung Electronics (based on common shares) and claim the top spot in market capitalization on the KOSPI index.

This marks a change in the KOSPI "throne" for the first time in 25 years and 7 months.

According to the Korea Exchange today (June 22), as of 12:51 p.m., SK Hynix's market capitalization was recorded at 2,084.6544 trillion won.

This is 456.1 billion won higher than the market capitalization of Samsung Electronics (2,084.1983 trillion won) at the same time.

With this, Samsung Electronics has relinquished the No. 1 spot in KOSPI market cap after approximately 25 years and 7 months.

Samsung Electronics first reached the top spot in the domestic stock market on July 29, 1999. While it experienced brief fluctuations afterward, it had not fallen from the top position since November 21, 2000.

This shift follows a period where the two "top" players in the domestic stock market, Samsung Electronics and SK Hynix, have been racing ahead on the back of strong semiconductor demand driven by the AI revolution, with SK Hynix recording a relatively higher stock price growth rate than Samsung Electronics.

Currently, SK Hynix's stock price is jumping by 5.82%, while Samsung Electronics is seeing a more modest gain of 0.71%.

However, when including Samsung Electronics' preferred shares (Samsung Electronics Pref, 184 trillion won), the gap in market capitalization between the two companies representing the domestic semiconductor industry remains significant.

As of this time, the combined market capitalization of Samsung Electronics and its preferred shares stands at 2,268.1983 trillion won, which is 109% of SK Hynix's market cap.

Samsung Electronics' stock price has surged 197.7% so far this year.

However, SK Hynix has shown an even steeper rise, climbing 341.9% during the same period.

The main reason cited for this difference in growth rates is the intensifying "semiconductor concentration" across the global stock market due to the artificial intelligence (AI) boom.

The general view in the market is that while SK Hynix has a high concentration in semiconductors, such as High Bandwidth Memory (HBM), Samsung Electronics possesses a vast portfolio beyond semiconductors—including smartphones, home appliances, and displays—which has prevented it from fully benefiting from the recent super-cycle in semiconductors.

Additionally, expectations for the listing of SK Hynix's American Depositary Receipts (ADRs) in the second half of this year are also cited as a factor influencing the company's stock price.

In March, SK Hynix submitted a registration statement (Form F-1) for its U.S. ADR listing to the U.S. Securities and Exchange Commission (SEC).

ADRs are securities issued to allow foreign companies to trade their shares on the U.S. stock market and are used as a means to expand accessibility for global investors.
※ Please note: This article was translated by AI and may contain errors.