Kim Hyojin

Samsung Electronics and SK Hynix are direct beneficiaries of the AI investment boom. The intense competition among frontier AI labs (e.g., OpenAI, Anthropic, Google DeepMind) drives continuous demand for HBM and other semiconductor components, requiring more data centers and advanced chips. These two companies dominate Korean semiconductor production and have the competitive edge to capture this demand growth for years.

Samsung Electronics and SK Hynix are direct beneficiaries of the AI investment boom. The intense competition among frontier AI labs (e.g., OpenAI, Anthropic, Google DeepMind) drives continuous demand for HBM and other semiconductor components, requiring more data centers and advanced chips. These two companies dominate Korean semiconductor production and have the competitive edge to capture this demand growth for years.

The KOSPI rally is not at its peak because while Samsung Electronics and SK Hynix dominate earnings and exports, the rest of the market is also recovering. Non-semiconductor exports have reached a new high, and other companies' operating profits grew 45% year-on-year. Historical patterns from the dot-com bubble show that such concentration can last over a year before a top forms, and current fundamental data supports a continued broad recovery.