Not China, Korea to Reap the Biggest Benefits from the 2026 Crisis
Not China, Korea to Reap the Biggest Benefits from the 2026 Crisis
Jakarta, CNBC Indonesia - South Korean chip giant SK Hynix is reaping substantial benefits amid the global memory crisis that has gripped the world since the end of last year. The company plans to expand production as demand surges in the AI sector remain high.
To secure new capital, SK Hynix has decided to pursue a stock listing in the United States (US). This plan was initially revealed in December.
Most recently, the company announced that it has submitted confidential documents to the US Securities and Exchange Commission (SEC). This move could lead to a Wall Street listing in 2026, according to CNBC International on Thursday (26/3/2026).
In the regulatory filing, SK Hynix stated it will proceed with the listing of American Depositary Receipts (ADR) in 2026. For context, ADRs are tradable certificates issued by US banks representing shares in foreign companies.
The ADRs will utilise existing shares rather than new ones, thereby preserving value for current shareholders.
“The final decision regarding the stock listing will be made after comprehensively considering the SEC’s review of the application, market conditions, anticipated demand, and other relevant factors,” the filing states.
Details on the size, method, and schedule of the public offering are not yet available.
According to local media cited by CNBC International, SK Hynix is considering raising around 10-15 trillion won (Rp112.3 trillion-Rp168.4 trillion).
On Wednesday, CEO Kwak Noh-Jung stated that SK Hynix plans to accumulate more than 100 trillion won (Rp1,123 trillion) in net cash. These funds are intended for long-term strategic investments.
Previously, SK Group Chairman Chey Tae-Won indicated that the global wafer chip supply shortage will continue until 2030. The reason is that demand for AI chips is growing faster than production capacity can keep up.
SK Group is a South Korean conglomerate that owns SK Hynix, one of the world’s three largest memory chip producers. SK Hynix commands 57% of the market for high-bandwidth memory (HBM), a vertically stacked DRAM technology, and holds 32% of the global DRAM market.
SK Hynix’s capacity is matched only by its compatriot company, Samsung. The third chip producer, based in the US, is Micron.
Chey’s statement was made on the sidelines of a developer conference hosted by Nvidia in San Jose, California.
“AI requires a tremendous amount of HBM, and to make HBM we use a tremendous amount of wafers,” Chey said. “Therefore, we need time to procure more wafers, at least 4-5 years. The current shortage could continue until 2030. According to our calculations, we are short by 20%,” Chey added.