SK Hynix Overtakes Samsung Electronics as Top KOSPI Market Cap Leader, Ending 25-Year Reign

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.
This marks the first change in the KOSPI "throne" 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 its position as the number one company by market cap on the KOSPI for the first time in 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 once fallen from the top position since November 21, 2000.
This shift comes as the two "top" players in the domestic stock market, Samsung Electronics and SK Hynix, have continued their rally fueled by 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 moment, 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 soared by 197.7% so far this year.
However, SK Hynix has shown a steeper growth rate, rising by 341.9% during the same period.
The primary reason for this disparity in growth rates is cited as the deepening "semiconductor concentration" across the global stock market due to the artificial intelligence (AI) boom.
While SK Hynix has a high concentration in semiconductors, such as High Bandwidth Memory (HBM), Samsung Electronics possesses a vast portfolio that includes smartphones, home appliances, and displays in addition to semiconductors. Consequently, the general market view is that Samsung has not fully benefited from the recent extreme strength in the semiconductor sector.
Additionally, expectations regarding the listing of SK Hynix's American Depositary Receipts (ADR) in the second half of this year are also cited as a factor influencing the company's stock price.
SK Hynix submitted a registration statement (Form F-1) for its U.S. ADR listing to the U.S. Securities and Exchange Commission (SEC) last March.
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.