SK Group's exports this year are expected to hit a record high in the 120 trillion won range, buoyed by strong semiconductor exports from SK hynix.
According to SK Group on the 25th, exports for the first to third quarters came to 87.8 trillion won. That is about a 20% increase from the same period last year (73.7 trillion won). SK Group said that if this growth continues in the fourth quarter, total exports for the year will surpass last year's 102.5 trillion won and reach the 120 trillion won range.
The reason SK Group's exports are virtually certain to exceed 100 trillion won for a second straight year is that exports of high-value memory semiconductors, including High Bandwidth Memory (HBM), by SK hynix played a decisive role. Last year, SK hynix accounted for 54% (55.2 trillion won) of SK Group's exports. Through the third quarter of this year, SK hynix's exports account for 65% (56.7 trillion won) of the group total.
SK hynix's export performance is serving as a national growth engine strong enough to influence Korea's overall exports hitting an all-time high recently. The government recently released data showing that Korea's total exports in the third quarter were $185 billion, the largest since related statistics began in 2010. High-value memory semiconductors, including HBM, led overall exports with $46.6 billion.
SK hynix's business results are translating into higher tax payments and market capitalization. Corporate taxes paid by SK hynix through the third quarter this year were 4.3 trillion won, about 45 times more than in the same period last year (940 billion won). As SK hynix's share price has risen, its market capitalization is in the 300 trillion won range. As of the closing price on the 24th, SK hynix's market capitalization was 379 trillion won, the second largest among domestic corporations.
SK Group assessed that the group's increased contribution to the national economy in exports, tax payments, and market cap is the result of structural improvement efforts—business, finance, and governance—consistently pushed by Chair Chey Tae-won. The group's efforts to identify future growth businesses, wind down marginal businesses, and turn around loss-making corporations are proving effective.
An SK official said, "Under Chair Chey's direct leadership, SK Group is contributing to the national economy by continuing investment and hiring focused on future growth businesses such as AI, semiconductors, energy, and bio," adding, "We aim to invest 128 trillion won in Korea by 2028 and continue to expand annual hiring to more than 8,000 people."