Jakarta, INTI - Chip giant SK Hynix has become the company with the largest market capitalization in South Korea.
Yonhap News reported on Monday, June 22, that SK Hynix surpassed its rival, Samsung Electronics, in terms of market capitalization for the first time.
SK Hynix's market capitalization reached 2.091 trillion won as of 12:42 p.m. local time, surpassing Samsung Electronics' 2.090 trillion won, according to the Korea Stock Exchange.
Samsung Dominates the Market since 2000
This marks the first time Samsung Electronics has relinquished its position on the benchmark Korea Composite Stock Price Index after topping the list since 2000.
SK Hynix shares rose 6.15 percent to 2,934,000 won, while Samsung Electronics moved up 0.99 percent to 357,500 won.
Both SK Hynix and Samsung Electronics shares have surged sharply over the past year due to a surge in chip demand, fueled by massive artificial intelligence (AI) developments.
Conclusion
SK Hynix has become South Korea's largest market capitalization company for the first time, surpassing Samsung Electronics. SK Hynix's market capitalization reached 2,091 trillion won, slightly surpassing Samsung's 2,090 trillion won. The rise in the value of both companies was driven by soaring demand for chips amid the rapid development of artificial intelligence (AI) technology.
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