South Korean memory chip giant SK hynix has surpassed Samsung Electronics in market capitalization for the first time, according to data released Monday by the Korea Exchange.
At 12:42 p.m. local time, SK hynix‘s market capitalization reached 209.1 trillion won (approximately $135.8 billion), narrowly exceeding Samsung Electronics’ 209 trillion won.
The milestone marks the first time Samsung Electronics has lost its position as the largest company on the benchmark Korea Composite Stock Price Index (KOSPI). Samsung first became the market’s most valuable listed company in 1999 and had held the top spot continuously since 2000.
SK hynix shares climbed 6.15 percent to 293,400 won during trading, while Samsung Electronics shares rose 0.99 percent to 357,500 won, according to Yonhap News Agency.
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