As HBM demand surged amid the generative AI boom, SK hynix overcame the crisis that had brought it close to being sold and transformed itself into one of the world's leading memory companies. It continues to demonstrate the strength of its business centered on HBM.
Following the currency crisis of the late 1990s, Hyundai Electronics integrated LG Semiconductor. In 2001, Hynix, which had become independent from the Hyundai Group, entered a phase in 2002 in which it was placed under the control of its creditors during negotiations over a sale to US-based Micron. The sale was rejected, however, and Hynix set out to rebuild itself independently.
A turning point came in 2012, when SK Group Chairman Choi Tae-won (崔泰源) acquired Hynix for approximately $3 billion. The company changed its name to SK hynix, shifted to a growth strategy after moving beyond its long-standing position as the No. 2 player, and became a factor that strengthened SK Group's presence in the South Korean economy.
The development of HBM changed the company's fortunes. From the mid-2000s, it researched technology for stacking DRAM vertically and achieved the world's first successful HBM development in 2013. The market remained cautious about the technology for many years because of its high manufacturing costs, but demand expanded as generative AI became widespread.
Today, the company is one of the world's leading and most profitable businesses, centered on HBM. Operating profit for April-June 2026 is estimated at approximately ¥6.8 trillion. Its market capitalization first reached $1 trillion in May 2022, and it raised approximately $26.5 billion through a US ADR listing in July. Market sentiment, however, remains volatile.