Korea Tech Daily — 2026-05-13
Samsung Electronics' market valuation is overtaken by SK Hynix for the first time in history, as South Korea's AI-driven semiconductor boom continues to reshape the domestic market landscape. Meanwhile, Seoul's government proposes a controversial "AI national dividend" that rattles stock markets, and Korea deepens its AI infrastructure ties with the UAE through a bilateral investment forum.
Korea Tech Daily — 2026-05-13
Top Story
SK Hynix Overtakes Samsung in Market Valuation — A Historic First
In a landmark shift for Korean financial markets, SK Hynix's total market capitalization has surpassed that of Samsung Electronics for the first time ever, as reported by Seoul Economic Daily on May 13. The reversal reflects soaring global demand for SK Hynix's high-bandwidth memory (HBM) products used in AI accelerators, while Samsung continues to lag behind in certifying its HBM chips for Nvidia's platforms. Meanwhile, Samsung unveiled its next-generation HBM4 memory, aiming to claw back ground in the AI chip race. Fitch Ratings separately noted that South Korea has significant room for active fiscal spending, crediting the AI semiconductor boom with strengthening the country's financial buffers.
Samsung · SK Hynix · LG
Samsung Unveils Next-Gen HBM4 Memory to Reclaim AI Ground
Samsung Electronics on Monday unveiled its next-generation HBM4 memory, aiming to tighten its grip on the AI accelerator market following a period in which SK Hynix had dominated AI chip supply. Samsung's move signals an aggressive bid to recertify with key customers and narrow the gap with its rival.
U.S. to Launch 2x Leveraged ETF Tracking Samsung and SK Hynix
A new 2x leveraged ETF tracking the DRAM ETF — with SK Hynix and Samsung Electronics making up nearly half of its holdings — is being prepared for launch in the United States, amid a global semiconductor ETF boom. Domestically, single-stock leveraged and inverse-2x ETFs based on Samsung Electronics and SK Hynix are set to debut later this month, reflecting surging retail and institutional interest.
SKC Invests 1.17 Trillion Won in Glass Substrates to Support SK Hynix
SKC, a materials unit of South Korea's SK Group, announced plans to raise 1.17 trillion KRW (approximately $870M) through a rights issue, allocating around 589.6 billion KRW to its U.S. subsidiary Absolics for glass substrate mass production over the next three years. The investment is seen as a strategic bet to support SK Hynix's advanced packaging needs and further widen the HBM technology gap with Samsung. SKC, Samsung Electro-Mechanics, and LG Innotek are all racing to achieve mass production of glass substrates between 2026 and 2028.
Bloomberg: "Korea Discount" Persists Despite AI-Age Rally
A Bloomberg analysis published today argues that despite the record-breaking runs by Samsung and SK Hynix, the persistent structural "Korea discount" means South Korea's top two companies may still be undervalued relative to global peers. The piece notes that foreign investors continue to price in governance risk and geopolitical uncertainty even as earnings power reaches historic highs.
Naver · Kakao · LINE
Naver Beats Q1 Earnings Estimates
Seoul Economic Daily's interactive market tracker noted on May 13 that Naver beat its Q1 2026 earnings estimates, continuing a trend of strong performance underpinned by its AI search and shopping agent rollouts. Naver's "AI Tab" for its homepage and app — housing AI shopping, travel, and financial service agents — remains a cornerstone of its strategy for the first half of 2026.
Naver and Kakao's AI "Citizen Secretary" Pilots Gain Traction
Naver and Kakao each launched pilot versions of an AI-based public service agent — known colloquially as a "citizen secretary" — developed in cooperation with South Korea's Ministry of the Interior and Safety. The agents aim to streamline government processes and reduce citizen wait times for documentation and benefits services, marking a significant step toward public-sector AI adoption.
Naver's Agentic AI Push Deepens with Shopping and Search Agents
In line with its early-2026 roadmap, Naver is rolling out an AI shopping agent and is preparing to launch an AI-powered search tab in the second quarter. The company is investing over 1 trillion won (~$691M) to support these agentic AI ambitions, racing alongside Kakao to redefine Korea's flagship internet services for the AI era. Kakao is pursuing parallel rollouts across messaging, fintech, and mobility.
Startups & Investment
Korea-UAE AI Infrastructure and Semiconductor Investment Forum Opens in Seoul
South Korea and the UAE held a joint AI Infrastructure and Semiconductor Investment Forum in Seoul on May 13, bringing together 25 UAE officials from Core42, MGX, Mubadala, and other sovereign wealth and tech institutions. The forum focused on strategic AI cooperation in cloud infrastructure, semiconductor supply chains, and data center development. The bilateral push reflects both countries' shared interest in diversifying AI supply chains beyond the U.S.-China axis.
Korea's Startup Ecosystem Shifts to Industrial AI
Korea's startup scene is rapidly pivoting toward industrial AI, with founders and investors scaling across manufacturing, logistics, healthcare, and deeptech infrastructure, according to the Korean Startup Weekly News #117 (published May 9). The shift reflects a broader national strategy to apply AI gains in the semiconductor sector downstream into vertical industries. Venture funding tied to AI infrastructure is accelerating.
Policy & Industry
Korea Government Proposes "AI National Dividend" — Markets React Sharply
Kim Yong-beom, chief of the Presidential Office's policy planning office, proposed a controversial "national dividend" system that would distribute a portion of AI-era excess profits — particularly from companies like Samsung and SK Hynix — to all Korean citizens. The proposal triggered an immediate reaction in equity markets, with investors uncertain about the regulatory trajectory. Fitch Ratings, however, maintained a constructive view, stating on May 13 that South Korea has ample room for active fiscal spending thanks to the ongoing AI-driven semiconductor boom, which has provided the government with stronger fiscal buffers than at any point in the past decade.
What to Watch
- SK Hynix HBM4 ramp-up: Watch for Nvidia's qualification timeline for SK Hynix's next HBM generation and whether Samsung can close the gap with its newly unveiled HBM4 chip.
- "AI National Dividend" legislation: The Presidential Office's proposal to redistribute AI chip profits is moving into policy discussions — any formal bill introduction could significantly move Samsung and SK Hynix share prices.
- Korea-UAE AI investment deals: The May 13 Seoul forum may produce binding MOU announcements or joint venture structures between Korean chipmakers and UAE sovereign wealth funds in the coming days.
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