SK Group is poised to hit 120 trillion KRW (approximately 81.92 billion USD) in exports this year, fueled by robust demand for cutting-edge semiconductors. SK Hynix is leading the charge with its high-bandwidth memory (HBM) exports, bolstering not just the group’s results but also South Korea’s economic outlook.
In a statement released on Tuesday, SK Group revealed that its export earnings had already reached 87.8 trillion KRW (approximately 59.94 billion USD) by the close of Q3, marking a substantial 20% jump from the 73.7 trillion KRW (approximately 50.31 billion USD) recorded in the same period last year. With the HBM export boom expected to persist through Q4, the group is on track to shatter the 100 trillion KRW (approximately 68.27 billion USD) annual export barrier for the second year running, with sights set on an unprecedented 120 trillion KRW (approximately 81.92 billion USD).
SK Hynix has emerged as the powerhouse behind this export surge. After contributing 54% (55.2 trillion KRW or 37.68 billion USD) to the group’s total exports last year, it accounted for 65% (56.7 trillion KRW or 38.70 billion USD) in the first three quarters of this year. The company’s focus on high-value memory semiconductors, particularly HBM, has not only boosted its own figures but has become a key driver of South Korea’s overall export growth.
Government data shows that South Korea’s exports hit a record 185 billion USD in Q3, the highest since records began in 2010. High-value memory semiconductors, including HBM, accounted for 46.6 billion USD of this total, underscoring their critical role in the nation’s export-driven economy.
The ripple effects of SK Hynix’s improved performance extend beyond exports. The company’s corporate tax payments skyrocketed to 4.3 trillion KRW (approximately 2.93 billion USD) in the first three quarters, a staggering 45-fold increase from the 94 billion KRW (approximately 64.15 million USD) paid in the same period last year. Moreover, its market capitalization has soared to 379 trillion KRW (approximately 258.61 billion USD), securing its position as the second-most valuable company in South Korea.
This strong performance is widely attributed to the structural innovation strategy led by SK Group Chairman Chey Tae-won. Since acquiring SK Hynix in 2012, Chey has steered the company towards future-focused industries like semiconductors, AI, and biotech, while streamlining operations and cutting underperforming segments, a strategy now bearing significant fruit.
An SK Group spokesperson highlighted the company’s commitment to future growth, “Under Chairman Chey’s leadership, we are doubling down on investments in AI, semiconductors, energy, and biotech. We’re planning to inject 128 trillion KRW (approximately 87.34 billion USD) into our South Korean operations by 2028 and create over 8,000 new jobs annually.”
