Samsung, SK Hynix Lead Semiconductor Stock Surge - 조선일보

On May 27, 2026, the Korean stock market surged, with the KOSPI index briefly exceeding 8,400 points, driven primarily by a strong performance in the semiconductor sector. Samsung Electronics and SK H... Read original →

The surge in Samsung and SK Hynix valuations, ostensibly triggered by Micron’s UBS-driven rally, reveals deeper structural demand from AI workloads for high-bandwidth memory. The race for HBM3E and HBM4 capacity is intensifying, with TSMC’s CoWoS packaging now a critical bottleneck—bolstering Korean suppliers’ pricing power. However, tightening EU Chips Act subsidy rules and potential U.S. export controls extending to HBM could raise compliance costs by 10–15%. Facing NVIDIA’s in-house memory ambitions, SK Hynix may accelerate alternative partnerships, possibly with SMIC, to mitigate supply chain risks. Over the next 12–24 months, if AI capex growth decelerates, today’s frothy valuations risk sharp correction. Yet successful HBM adoption in new domains—like Hyundai’s autonomous cockpit systems—could unlock a second growth vector. Leveraged ETFs, meanwhile, amplify downside liquidity risks.