For the first time in 26 years, Samsung has lost its status as South Korea’s most valuable company
22 June 11:51For the first time since 2000, Samsung Electronics has lost its status as South Korea’s most valuable publicly traded company. On Monday, June 22, 2026, memory chip manufacturer SK Hynix surpassed the tech giant in market capitalization, according to Reuters, as reported by "Komersant Ukrainian".
The company has become one of the main beneficiaries of the global artificial intelligence boom thanks to high demand for HBM memory.
SK Hynix’s market value reached approximately 2.0825 quadrillion won, or $1.35 trillion, during trading. Samsung Electronics’ market capitalization, excluding preferred shares, stood at approximately 2.0813 quadrillion won.
SK Hynix Surpassed Samsung in Market Capitalization
SK Hynix shares rose by approximately 5.7% during trading on June 22.
This allowed the company to briefly overtake Samsung Electronics, whose shares gained about 0.4%.
The gap between the two companies was negligible, so their rankings may fluctuate depending on market movements.
At the same time, the event itself was symbolic for South Korea, where Samsung had remained the undisputed corporate leader for 26 years.
Why SK Hynix’s stock surged
SK Hynix’s rapid rise is linked to the global boom in artificial intelligence. The company made a timely bet on developing high-bandwidth memory (HBM) chips, which are critical for AI systems and are supplied to giants such as Nvidia and Google.
These chips are used in conjunction with graphics processing units (GPUs) and AI accelerators. They help quickly transfer the large volumes of data required for training and operating modern AI models.
Previously, HBM was considered a relatively niche product. Now it has become one of the key components of data centers.
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What Is HBM Memory
HBM, or High Bandwidth Memory, is a type of memory with high bandwidth.
It consists of several layers of chips stacked on top of one another. This design allows for significantly faster data transfer and lower power consumption compared to traditional types of memory.
HBM is used in:
- graphics accelerators;
- artificial intelligence servers;
- supercomputers;
- data centers;
- machine learning systems.
It is precisely the demand for these solutions that has been the main driver of SK Hynix’s growth.
SK Hynix has become the market leader in HBM
SK Hynix was the first to make a major commitment to the development of high-speed memory and has become a key supplier of HBM to manufacturers of AI accelerators.
According to market estimates, the company controlled the majority of global HBM shipments in 2025.
Its main competitors remain:
- Samsung Electronics;
- the U.S.-based Micron Technology.
SK Hynix’s advantage lies not only in its production volume but also in its close collaboration with leading manufacturers of AI processors.
The company’s stock has risen by hundreds of percent
Since the beginning of 2026, SK Hynix’s stock has risen by approximately 340%.
By comparison, Samsung Electronics’ stock also rose significantly during the same period, though its performance was weaker.
Investors expect that the shortage of high-performance memory and large-scale investments in data centers will support chipmakers’ profits.
In the spring of 2026, SK Hynix surpassed the $1 trillion market capitalization mark for the first time.
Samsung has fallen behind in the HBM race
Samsung remains one of the world’s largest semiconductor manufacturers and has a significantly broader business portfolio.
The company manufactures:
- smartphones;
- TVs;
- home appliances;
- processors;
- memory chips;
- displays;
- telecommunications equipment.
However, in the HBM segment, Samsung has for some time lagged behind SK Hynix in terms of the pace of certification and delivery of cutting-edge products.
The company is trying to close the gap by developing new generations of HBM and expanding its collaboration with global customers.
From a Hyundai subsidiary to the country’s most valuable company
SK Hynix’s history began in 1983. Initially, the company was part of the Hyundai industrial group and was known as Hyundai Electronics.
After the Asian financial crisis, the business faced serious debt problems.
In the early 2000s, the company was on the brink of bankruptcy. It subsequently underwent restructuring and was acquired by SK Group in 2012.
Following this, the company adopted its current name, SK Hynix, and began actively investing in cutting-edge memory technologies.
As far back as 2023, the situation for SK Hynix was difficult.
Due to a drop in global prices for memory chips, the company posted an operating loss of approximately 7.73 trillion won.
However, as early as the following year, demand for artificial intelligence infrastructure began to rapidly revive the market.
Investments by Microsoft, Google, Meta, and other tech companies in data centers sharply increased the demand for HBM.
By the end of 2024, SK Hynix’s operating profit reached a then-record 23.5 trillion won.
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