SEOUL, Jan 20, 2026, 01:40 (KST) — Premarket
- SK hynix shares climbed roughly 1.1% on Monday, closing at 764,000 won, following Seoul’s announcement of tariff discussions with Washington the previous day.
- U.S. restrictions currently focus on specific AI processors, leaving out the memory chips that South Korea primarily exports.
- Traders await signs of tariff expansions and SK hynix’s upcoming results on Jan. 29.
SK hynix Inc (000660.KS) shares climbed 1.1% to finish at 764,000 won on Monday, trading within a range of 750,000 to 774,000 during the session. The South Korean memory-chip manufacturer is set to release its earnings on Jan. 29. 1
In Seoul, the stock has turned into a quick proxy for the AI hardware boom. SK hynix offers high-bandwidth memory, or HBM — chip stacks placed alongside AI processors to speed up data transfer and cut power consumption.
Tariff news is hitting with unusual force. Investors are scrambling to figure out if U.S. restrictions on advanced AI chips will remain targeted or expand to include the memory components South Korea exports in large volumes.
South Korea plans to push for favourable terms on any U.S. tariffs targeting memory-chip imports, a presidential office spokesperson said Sunday. The day before, the trade minister noted that the U.S. proclamation imposing a 25% tariff on certain advanced AI chips would have limited immediate effect since memory chips are excluded. Still, he cautioned it’s “not yet time to be reassured,” citing uncertainty over a possible second phase. 2
Memory supply dynamics are shifting again, unrelated to policy changes. Micron announced plans to acquire a Powerchip fabrication plant in Taiwan for $1.8 billion, aiming to boost its DRAM wafer production starting in the second half of 2027. The company is wagering that demand will continue to outpace supply. TrendForce suggested this acquisition might lead to an upward revision in global DRAM supply forecasts for 2027. 3
South Korean stocks reached new highs on Monday, with chipmakers helping to push the market up, despite declines elsewhere in Asia amid ongoing concerns over U.S. tariffs. 4
SK hynix is speeding up its timeline to meet rising demand. Sungsoo Ryu, CEO of SK Hynix America, revealed the company is advancing the launch of its first fab in Yongin. Meanwhile, next month, wafer processing will begin at the M15X plant in Cheongju, focusing on HBM production. “We have to support memory consumption for AI infrastructure,” Ryu emphasized. 5
The expansion race driving the current rally also poses a risk down the line. Should new capacity from Micron and others outpace AI spending, memory prices could tumble fast. The sector has a well-known history of sharp boom-and-bust cycles.
Traders in Seoul on Tuesday will be on alert for new signals from Washington regarding the scale and timing of chip tariffs, especially any indication that memory products might be targeted in upcoming rounds. SK hynix’s earnings report on Jan. 29 will serve as the next major trigger, with investors keen to see specifics on HBM supply deals, pricing trends, and capital expenditures.
