[Market Special] SK hynix Ousts Samsung Electronics from Market Cap Lead - Businesskorea

On June 22, 2026, SK Hynix surpassed Samsung Electronics to become the top market capitalization company on the KOSPI index for the first time in history. This shift marks a significant transformation... Read original →

SK hynix’s market cap lead signals a structural shift in AI hardware value chains. Its HBM3E/HBM4 mass production is now tightly integrated into NVIDIA’s MR-MUF packaging, creating technological lock-in that compels TSMC to align CoWoS capacity with HBM supply rhythms. Samsung’s delayed HBM3E qualification reveals deeper TSV stacking yield issues, exacerbated by export controls on advanced lithography tools from the U.S., Japan, and the Netherlands. Over the next 12–24 months, SK hynix must extend its HBM dominance into CXL memory ecosystems—or risk disruption from NVIDIA’s potential in-house memory architectures. Conversely, Samsung could rebound via GAA transistors and 2nm-class DRAM processes. This valuation flip reflects capital markets repricing 'AI-native memory' as a core strategic asset.