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CEO and President Kwak Noh-jung delivering a keynote speech at last year's event. (Photo courtesy of SK hynix) |
[Alpha Biz= Kim Jisun] SK hynix surpassed a market capitalization of KRW 200 trillion on June 24, achieving a major milestone less than two years after CEO Kwak Noh-jung pledged to reach the figure within three years. The company’s shares rose KRW 18,250 (7.03%) from the previous day to KRW 277,750 as of 2 p.m., with the stock hitting an intraday high of KRW 280,000.
The company’s market cap now stands at KRW 202 trillion, nearly doubling from KRW 100 trillion in early 2023. This marks the first time in its history that SK hynix has crossed the KRW 200 trillion threshold.
The sharp rise was attributed to easing geopolitical tensions in the Middle East, along with growing optimism over a recovery in the semiconductor industry and SK hynix’s leadership in the high-bandwidth memory (HBM) market.
At a media conference held during CES 2024 in Las Vegas last year, CEO Kwak publicly stated his ambition to reach a market capitalization of KRW 200 trillion within three years. He also set a target share price of KRW 280,000, which was approached during today’s trading session.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
