Seoul – SK Group has ascended to become the second-most-valuable conglomerate in South Korea, surpassing LG Group, as per the latest figures from a corporate data firm. This change was largely driven by a significant rise in the market value of its semiconductor unit, SK hynix Inc.
According to Yonhap News Agency, SK hynix, the world's second-largest memory chip manufacturer, experienced a 29% increase in market capitalization, reaching 133.22 trillion won at the end of March from 103.67 trillion won in early January. This increase comes amid recovering demand for chips. Conversely, LG Group, which dropped to the third position, saw a decline in the market value of major affiliates like LG Energy Solution Ltd. and LG Chem Ltd. LG Energy Solution's market capitalization decreased by 8% to 92.43 trillion won from 100.5 trillion won during the cited period.
The overall value of listed stocks in the country, excluding preferred shares, grew by 3.8% or 96 trillion won, totaling 2,599 trillion won at the end of March, up from 2,503 trillion won in early January. Samsung Group continues to lead with a market value of 754.52 trillion won, followed by SK Group at 207.75 trillion won and LG Group at 177.31 trillion won.