South Korean tech giants Samsung Electronics and SK Hynix have reached their highest stock prices in a year after announcing partnerships with OpenAI, a leading artificial intelligence company. This development has driven the country’s stock market to a record high, with the benchmark KOSPI index surpassing 3,500 points for the first time in history.
Samsung Electronics, the largest chaebol in South Korea, saw its stock rise by 4.7 percent in early trade, reaching its highest level in 52 weeks and its strongest level in nearly five years. SK Hynix, a prominent memory chipmaker, also experienced a significant increase, with its stock price rising by over 10 percent to a one-year peak.
The surge in stock prices follows the announcement of preliminary deals between Samsung Electronics, SK Hynix, and OpenAI to provide chips and equipment for the latter’s Stargate project. OpenAI’s chief executive, Sam Altman, visited Seoul to finalize the agreements, which are expected to support the company’s growing demand for memory chips. According to projections, OpenAI’s memory demand is anticipated to reach up to 900,000 DRAM wafers per month, with both Samsung Electronics and SK Hynix committed to supplying the necessary components.
The Stargate project is part of a broader initiative launched by US President Donald Trump to invest up to $500 billion in artificial intelligence infrastructure in the United States. During his visit to Seoul, Altman also met with South Korean President Lee Jae Myung, who expressed his commitment to supporting the development of AI in the Asia-Pacific region. The South Korean government has pledged to cooperate closely with OpenAI to establish the country as a hub for AI innovation.
Separate government data released on Wednesday showed that South Korea’s semiconductor exports have reached an all-time high, driven by booming global demand for AI chips. This trend is expected to continue, with the country’s tech industry poised for significant growth in the coming years.
The partnership between Samsung Electronics, SK Hynix, and OpenAI is a significant development for South Korea’s tech industry, highlighting the country’s potential to become a major player in the global AI market. As the demand for AI chips continues to grow, the country’s semiconductor exports are likely to remain strong, driving economic growth and reinforcing South Korea’s position as a leader in the tech sector.
