SK hynix Surpasses Samsung Electronics in Market Cap for First Time
Quick Look
- SK hynix has overtaken Samsung Electronics in market capitalization for the first time, reaching 2,091 trillion won compared to Samsung's 2,090 trillion won.
- This marks the first time since 2000 that Samsung has lost its top position on the KOSPI index.
AI-generated summary
Why It Matters
SK hynix Inc. has surpassed Samsung Electronics Co. in market capitalization for the first time, ending Samsung's long-held top position on the KOSPI index.
SEOUL, June 22 (Yonhap) -- SK hynix Inc. has surpassed Samsung Electronics Co. in terms of market capitalization for the first time, the bourse operator said Monday.
The market capitalization of SK hynix reached 2,091 trillion won (US$1,358 billion) at 12:42 p.m., surpassing Samsung Electronics' 2,090 trillion won, according to the Korea Exchange (KRX).
It marked the first time that Samsung Electronics has given up its throne on the benchmark Korea Composite Stock Price Index (KOSPI) since steadfastly remaining at the top since 2000. It first ranked No. 1 in terms of market capitalization in 1999.
Shares of SK hynix rose 6.15 percent to 2,934,000 won, while Samsung Electronics moved up 0.99 percent to 357,500 won.
Open Questions
- Will SK hynix maintain its lead?
- What are the long-term implications for the semiconductor market?
