SK Hynix Tops $1 Trillion Market Value, Second in Korea After Samsung

SK Hynix's market capitalization surpassed $1 trillion on May 27, making it the latest entrant to the club. That means all three of the world's biggest memory-chip makers now have market values above $1 trillion.

As of 9:35 a.m., SK Hynix was trading at 2.245 million won, up 193,000 won, or 9.41%, from the previous session. The stock opened at 2.279 million won, up 11.06%, and that remained the session high.

At that price, SK Hynix's market capitalization stood at 1,600.0168 trillion won, equivalent to more than $1 trillion at the prevailing exchange rate of 1,503.4 won per dollar.

Micron Technology joined the $1 trillion market-value club overnight after jumping 19.29%. The rally followed UBS's decision to triple its price target, boosting investor sentiment. UBS said the sharp increase reflected its view that Micron has shifted from a cyclical company to a structurally high-profit business.

The memory-chip industry once swung between booms and busts because of supply-demand imbalances. That dynamic is changing. As competition to invest in artificial intelligence infrastructure intensifies and supply tightens, the industry has increasingly adopted long-term supply agreements lasting three to five years.

Samsung Electronics became the first South Korean company to surpass a $1 trillion market capitalization on May 6.

Han Kyung-woo, Hankyung.com reporter, case@hankyung.com