SK Hynix overtakes Samsung Electronics as Kospi's top stock for first time in 25 years

SK Hynix overtook Samsung Electronics (common shares) to become the largest company by market capitalization on the Kospi during intraday trading Monday — the first time Samsung Electronics had ceded the top spot in roughly 25 years and seven months.

SK Hynix's market cap stood at 2,076.81 trillion won (about $1.35 trillion) as of 12:57 p.m. Monday.

Samsung Electronics fell to second place with a market cap of 2,072.51 trillion won.

SK Hynix's share price rose 5.39 percent to 2.913 million won at the same time, putting it on the verge of breaking through the 3 million won mark. Samsung Electronics, meanwhile, was trading near its previous session's close.

Market observers broadly attribute the divergence to the two companies' differing exposure to the semiconductor boom. SK Hynix is heavily concentrated in semiconductors, particularly HBM, while Samsung Electronics' vast portfolio — spanning smartphones, home appliances and displays in addition to chips — has prevented it from fully capitalizing on the recent surge in semiconductor demand.

Expectations that SK Hynix will list American depositary receipts in the United States in the second half of this year are also cited as a factor supporting its share price.

SK Hynix filed a Form F-1 registration statement with the US Securities and Exchange Commission in March to pursue a US ADR listing.

An ADR is a security issued to allow foreign companies to trade their shares on US markets, and serves as a tool for broadening access to global investors.