en.Wedoany.com Reported - SK hynix has surpassed Samsung Electronics in market capitalization for the first time, becoming the largest company on South Korea's benchmark KOSPI stock market, ending Samsung Electronics' more than 25-year reign as the country's most valuable listed company.

According to data from the Korea Exchange on June 22, SK hynix closed at 2,919,000 won that day, up 5.61% from the previous trading day. Based on the closing price, the company's market capitalization reached 2,080.38 trillion won, surpassing the market cap of Samsung Electronics' common shares (2,066.66 trillion won) on the same day.

This change marks the first time the top spot on the KOSPI market cap ranking has changed hands in 25 years and 7 months. Since November 21, 2000, Samsung Electronics had consistently held the position as the most valuable company on the South Korean stock market.

Shares of both companies have risen significantly this year. Expectations of tighter memory chip supply and higher prices, driven by the expansion of artificial intelligence applications, have boosted investor confidence in the semiconductor industry overall. SK hynix, which focuses on memory semiconductors, has benefited more directly from this trend than Samsung Electronics, which has a broader business portfolio.

Samsung Electronics' businesses include smartphones, televisions, home appliances, and displays, in addition to memory semiconductors. While rising memory prices support its semiconductor division, they may also increase component costs for its finished product businesses. Additionally, weakness in non-memory businesses, including foundry and system LSI operations, is considered one of the factors limiting the rise in Samsung Electronics' stock price relative to SK hynix.

SK hynix's plan to issue American Depositary Receipts (ADRs) in the United States has also supported investor sentiment. In March, the company confidentially submitted registration documents to the U.S. Securities and Exchange Commission (SEC) for a potential U.S. listing. Market participants believe that a U.S. listing could help improve access for global investors and potentially bring its valuation closer to that of major U.S. semiconductor companies.

However, when including preferred shares, Samsung Electronics still maintains a lead in total market capitalization. As of June 22, the market cap of Samsung Electronics' preferred shares was approximately 180 trillion won.

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