Seoul [South Korea], October 27 (ANI): South Korean chipmaker Samsung Electronics Co. saw its shares surpass 100,000 won (USD 69.88) for the first time on Monday, driven by optimism over a chip industry recovery, high-bandwidth memory (HBM) competitiveness, and its stock buyback program, according to Pulse, the English service of Maeil Business News Korea.
“Samsung Electronics shares opened at 101,300 won (USD 70.63) on Monday, up 2.53 percent from the previous session, boosting its market capitalization to 597 trillion won (USD 411.93 billion). It is the first time the stock has ever crossed the 100,000 won threshold,” the report stated.
Earlier in 2024, Samsung’s stock had peaked at 79,600 won (USD 57.31) before slipping below 50,000 won (USD 35.93) during trading on November 14 last year. It remained within the 50,000 won (USD 36.20) range until early this year due to a slump in its semiconductor division, which accounts for nearly half of its total profit. The decline in semiconductor operating profits had weighed heavily on the company’s overall earnings.
“In the first quarter of 2025, Samsung fell behind industry rival SK hynix Inc. for the first time in 33 years. Investor confidence rebounded after Samsung announced a 10 trillion won (USD 7.2 billion) share buyback in November 2024 as part of its shareholder value enhancement plan,” the report said.
Senior executives also made additional stock purchases, signaling a strong commitment to responsible management and share-price stability. These efforts helped the stock recover to the 60,000 won (USD 43.45) range by June this year.
The company’s stock has maintained a steady upward trajectory since crossing the 90,000 won level earlier this month, reflecting renewed investor confidence in Samsung’s semiconductor recovery and long-term market competitiveness. (ANI)
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