SK Hynix Tops 2 Million Won for First Time as Samsung Hits 300,000 Won Record

Shares top 2 million won in regular trading for the first time

Samsung Electronics Co. and SK Hynix Inc., South Korea’s two largest chipmakers, both climbed in early trading on hopes for a US-Iran ceasefire, with Samsung topping 300,000 won and SK Hynix rising above 2 million won.

As of 9:08 a.m. on May 26, Samsung was trading at 300,000 won, up 2.56% from the previous session. SK Hynix gained 4.43% to 2.027 million won. It was the first time SK Hynix had traded above 2 million won a share during regular market hours.

The rally in semiconductor stocks followed gains in US technology shares on expectations the conflict between Washington and Tehran could wind down. US markets were closed on May 26 for Memorial Day, but the Philadelphia Semiconductor Index rose 2% on May 22, the final trading day of the previous week.

Investor sentiment improved after President Donald Trump wrote on Truth Social that he had discussed a peace-related memorandum of understanding with Arab leaders in countries neighboring Iran and that an agreement had largely been negotiated.

He wrote again the next day that negotiations with Iran were proceeding in an orderly and constructive manner.

A proposed agreement that the US and Iran are reportedly close to signing includes a 60-day extension of the ceasefire, the reopening of the Strait of Hormuz and the start of talks to limit Iran’s nuclear program.

Trump also said he would not rush a deal and that negotiations were not yet fully complete.

In a report published on May 26, NH Investment & Securities set target prices of 490,000 won for Samsung and 3.1 million won for SK Hynix, saying memory chips are the bottleneck at every stage of artificial intelligence investment.

The brokerage added that worsening memory shortages are driving the spread of three- to five-year contracts that are more binding than existing long-term supply agreements. Those deals include financial guarantees, upfront payments, support for investment in new production lines and funding for manufacturing equipment purchases.

Noh Jung-dong, Hankyung.com reporter dong2@hankyung.com