US Stock Market Move | South Korean semiconductor giant SK Hynix (SKHYV.US) debuts on the US stock market, opening with a 14% increase.

On Friday, South Korean semiconductor giant SK Hynix (SKHYV.US) saw its US stock market debut with a 14% increase, opening at $170, above the IPO price of $149. The company raised $26.5 billion, setting a new record for foreign companies in the US stock market public offering. Chairman of SK Group, Chey Tae-won, stated that if the returns are strong and the company's stock price remains stable, SK Hynix is open to issuing more US shares. "This actually requires better returns," he said. "Once we have better returns, demand will naturally increase. Our top priority is to maintain stock price stability and hope for long-term potential for growth." Chey Tae-won also promised to increase the company's investment in the US. He said, "Now is the era of AI, and the arrival of the AI era has greatly increased the demand for storage chips." Currently, the three major top storage chip manufacturers are accelerating investment to expand production capacity to meet the surging market demand. SK Hynix and Samsung announced last week that they will collectively invest 8 trillion won to build new chip manufacturing plants. This is part of a grand plan in South Korea aiming to double the country's storage chip capacity within five years.