[Breaking] The Top Spot Has Changed... SK hynix Becomes KOSPI No. 1, Excluding Samsung Electronics Preferred Shares

Samsung Electronics Loses Top Spot After 26 Years, Drops to Second Place

View of SK hynix headquarters in Icheon, Gyeonggi Province. Photo by Yonhap News

SK hynix has risen to the top spot in market capitalization on the Korean stock market.

According to the Korea Exchange on June 22, as of 12:50 p.m., SK hynix's market capitalization stood at 2,087 trillion won, slightly surpassing Samsung Electronics' 2,078 trillion won.

The share price of SK hynix was 2,923,000 won, up 5.82% from the previous trading day, while Samsung Electronics rose only 0.71% to 356,500 won, resulting in a reversal of their market capitalization rankings.

However, when including the 184 trillion won market capitalization of Samsung Electronics' preferred shares, Samsung Electronics still maintains a higher total market capitalization than SK hynix.

While Samsung Electronics' share price has risen by around 200% since the beginning of this year, SK hynix has climbed by 342% during the same period, demonstrating a steeper growth rate.

Samsung Electronics has held the top spot in market capitalization on the Korean stock market continuously since 2000, but after 26 years, the crown has been passed to SK hynix.

The recent sharp rise in SK hynix's share price is mainly attributed to its push to list American Depositary Receipts (ADR) on the U.S. stock market. Market experts expect that if ADR listing becomes a reality, SK hynix's valuation will rise to the level of its competitor, Micron.

Park Junyoung, an analyst at Hanwha Investment & Securities, emphasized, "SK hynix will undergo a value re-evaluation along with its ADR listing on the U.S. stock market."

This content was produced with the assistance of AI translation services.