"Missed Hynix? This stock too?" SK Square jumps 6% as SK affiliates surge across the board

[Financial News] Fueled by a strong global semiconductor market, the market capitalization of SK Group surpassed 2,000 trillion won for the first time. As key affiliates SK hynix and SK Square both hit record highs and expanded the group's overall size, the gap with the long-time No. 1 Samsung Group is also narrowing quickly.
According to the Korea Exchange (KRX) on the 16th, the combined market capitalization of 19 listed SK Group companies stood at 2,019.618 trillion won at the close, up 2.51% from the previous trading day.
The clear driver of this record growth was SK hynix. The chipmaker closed at 2.382 million won, up 4.11% from the previous session, setting a new all-time high on a closing basis. Its standalone market capitalization reached 1,697.657 trillion won, accounting for more than 84% of the group's total. The surge reflects a sharp jump in demand driven by the semiconductor supercycle.
SK Square, the group's second-largest company by market capitalization, also jumped 6.23% to close at 1.501 million won, setting a new record high. As the largest shareholder of SK hynix, SK Square drew strong buying interest on expectations that the chipmaker's rising share price would boost its net asset value (NAV), lifting its market capitalization to 198.0695 trillion won.
Other major affiliates also played a strong role in the rally. The holding company SK posted a market capitalization of 48.7943 trillion won, while SK Telecom (SKT) and SK Innovation were valued at 21.5005 trillion won and 19.0184 trillion won, respectively. The broad-based gains across affiliates helped push the group's total market value past 2,000 trillion won.

SK Group's rapid rise has sharply narrowed the gap with Samsung Group, the No. 1 conglomerate by market capitalization. On the day, the combined market value of Samsung Group's 18 listed companies rose 1.81% from the previous session to 2,552.316 trillion won. Samsung Electronics Co., Ltd., the KOSPI's flagship stock, closed up 1.78% at 343,000 won, restoring its market capitalization to 2,005.2736 trillion won and reclaiming the 2,000 trillion won mark for the first time in eight trading days.
As the value of companies centered on semiconductors surges in the domestic stock market, the standing of major conglomerates is diverging more clearly. The combined market capitalization of the five largest groups in South Korea reached 5,530.5348 trillion won, accounting for 71.7% of the entire market, underscoring the growing concentration in large-cap stocks.
By business group ranking, Samsung Group remains firmly in first place, followed closely by SK Group at just over 2,019 trillion won. Hyundai Motor Group ranked third with 343.598 trillion won, LG Group fourth with 234.505 trillion won, HD Hyundai fifth with 189.099 trillion won, and Hanwha Group followed with 153.658 trillion won.
The outlook has been mixed depending on whether a group has a semiconductor business. While Samsung and SK have seen their market share in the stock market surge on the back of the semiconductor boom, the market capitalization shares of Hyundai Motor Group, LG Group and HD Hyundai have relatively shrunk.
The investment banking industry expects the concentration of market capitalization around the two groups to continue, as profit forecasts are improving in semiconductors, driven by surging demand for AI server chips and expanding long-term contracts.
Meanwhile, the KOSPI closed at 8,726.6, up 2.11% from the previous session, as foreign investors made heavy net purchases worth 1.5339 trillion won.
moon@fnnews.com Moon Young-jin Reporter