SK Group tops KRW2,000 trillion as AI memory demand and Nvidia visit lift valuation

SK Group’s market cap surpassing KRW2,000 trillion reflects more than AI memory demand—it signals a structural shift toward HBM-centric AI infrastructure. Technically, SK Hynix’s dominance in HBM3E is tightening CoWoS packaging capacity at TSMC and forcing Micron and Samsung to accelerate TSV and hybrid bonding R&D. On compliance, U.S. export controls compel SK to operate dual-track production lines for China and non-China markets, inflating CapEx and supply chain complexity. Strategically, Samsung may double down on vertical integration of its own AI accelerators with memory, while Micron could deepen alliances with Broadcom and AMD to counter the SK-NVIDIA axis. Over the next 12–24 months, SK’s valuation premium hinges on securing leadership in HBM4 standardization; otherwise, the ‘memory wall’—once a technical bottleneck—will become a geopolitical fault line.