The Semiconductor Market: An AI-Driven Supercycle

The current semiconductor market is experiencing an unprecedented boom driven by the development of AI technology. With the explosive increase in demand for High Bandwidth Memory (HBM), essential for AI training and inference, the memory semiconductor industry is widely expected to face deepening supply shortages until 2028. Global companies like Micron are also making massive investments in expanding HBM production facilities, intensifying competition. This demand for AI semiconductors is anticipated to spread not only to data centers but also to edge devices such as PCs and smartphones.

Korean companies, in particular, hold a leading position in the HBM market, which is a primary factor driving the strength of semiconductor-related stocks in the domestic stock market. This trend is not merely a short-term phenomenon but a structural growth engine that has emerged amidst the massive paradigm shift of building AI infrastructure.

Key Factors to Consider When Investing in Semiconductor Stocks

When investing in semiconductor stocks, it is crucial to consider not only current performance but also the structural characteristics of the industry and its future growth potential. It is especially important to carefully check the following factors:

• Increased Demand for AI Semiconductors: It is necessary to understand how closely a company’s products and technologies are related to core demands of the AI era, such as HBM and AI accelerators.
• Technological Competitiveness and Market Share: The ability to develop next-generation process technology and competitive advantage in the global market significantly impact long-term investment performance.
• Capital Expenditure (CAPEX) Plans: Large-scale capital expenditures by semiconductor companies can signal future production capacity expansion and performance improvement.
• Position within the Value Chain: The semiconductor industry consists of a complex value chain including design, manufacturing, and post-processing. You should identify companies that play a critical role at each stage.

Recently, AI has also been used in semiconductor processes to increase efficiency, such as determining production order. This can lead to an overall strengthening of the semiconductor industry’s competitiveness.

Diversified Semiconductor Investment Strategy: Utilizing Materials, Parts, and Equipment (Soobujang) and ETFs

Beyond large-cap semiconductor stocks, there are many ways to diversify your investment portfolio. In particular, it is worth paying attention to materials, parts, and equipment (Soobujang) companies and semiconductor ETFs.

• Semiconductor Materials, Parts, and Equipment (Soobujang) Companies: The AI semiconductor supercycle brings significant benefits not only to large chipmakers but also to Soobujang companies. In the three-stage cycle of rising semiconductor prices, increased volume, and expansion, the performance turnaround for Soobujang companies can become full-fledged. Companies with core technologies such as etching equipment, deposition equipment, specialty gases, and CMP slurries should be closely watched.
• Semiconductor ETFs: If individual stock selection is difficult, you can consider ETFs that focus on semiconductor themes. Recently, funds have been flowing into AI semiconductor ETFs with a higher proportion of large-cap stocks like Samsung Electronics and SK Hynix, and various products investing in domestic and international semiconductor value chains have shown good performance.

The phenomenon of funds flowing into large-cap semiconductor ETFs when market volatility increases is interpreted as a sign that investors have high expectations for a semiconductor-led market.

The semiconductor market is constantly evolving with the advancement of AI technology. By understanding these changes and establishing your own investment principles, you can seize good opportunities in semiconductor stock investment, which is a key growth engine in the AI era. This is a time when in-depth analysis and continuous interest are more important than simply acquiring information.

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It’s necessary to coolly analyze how Hanmi Semiconductor, which is regarded as a key driving force of AI infrastructure beyond just an equipment supplier, was able to establish such a strong position, and what growth engines it possesses for the future.

TC Bonder Technology: The ‘De Facto Standard’ Equipment in the HBM Market

The biggest reason Hanmi Semiconductor has emerged as a key player in the AI semiconductor era is its overwhelming TC bonder technology. A TC bonder is critical equipment in the HBM manufacturing process that precisely bonds DRAM chips at high temperatures and pressures. The precision and efficiency of this process determine the performance and yield of HBM. According to TechInsights, a global semiconductor market research firm, Hanmi Semiconductor firmly held the top position in the global HBM TC bonder market with an impressive 71.2% share as of Q3 2025.

• Hanmi Semiconductor entered the HBM equipment market in 2017 by launching the world’s first ‘TSV Dual Stacking TC Bonder’.
• It possesses all original TC bonder technologies for both NCF (Non-Conductive Film) type and MR-MUF (Mass Reflow-Molded Underfill) type, which are necessary for HBM manufacturing.
• It has established a mass production system for ‘TC Bonder 4’ for HBM4 starting July 2025, and plans to launch ‘Wide TC Bonder’ for next-generation HBM5 and HBM6 production in the second half of 2026.

Such unrivaled technological prowess and a proactive product development roadmap have made Hanmi Semiconductor the ‘de facto standard’ equipment supplier in the HBM market. Ultimately, as the number of HBM stacking layers increases, the importance of post-processing equipment, including TC bonders, can only grow.

Strengthening Global Market Dominance and Business Expansion Strategy

Hanmi Semiconductor is not merely staying in the domestic market but accelerating its expansion into the global market. In the past, it earned the nickname ‘Super Eul’ (a term for a strong supplier) through its close cooperation with SK Hynix, but now it is building an even more robust position by diversifying its customer base.

• It has expanded its customer portfolio by supplying TC bonder equipment to Micron in the United States.
• It plans to expand its market reach by supplying to foundries and OSAT (Outsourced Semiconductor Assembly and Test) companies in China and Taiwan.
• It is investing a total of 100 billion won to build a hybrid bonder factory with a total floor area of 4,415 pyeong (approx. 14,590 square meters) in Incheon, aiming for completion by the end of 2026. This is interpreted as a strategy to preempt the hybrid bonding market, a next-generation packaging technology.
• In September 2025, it established an AI Research Headquarters, integrating AI technology into TC bonder equipment to achieve process optimization, predictive analysis, and automation.

Such aggressive investment and technological convergence are important drivers that enable Hanmi Semiconductor to achieve continuous growth in the rapidly changing semiconductor market. Although competition from rivals is fierce, it is noteworthy that the company has built a strong defense with nearly 150 HBM equipment-related patents.

2026 Performance ‘Surge’ Forecast, What are the Future Growth Engines?

Hanmi Semiconductor recorded its highest-ever revenue in 2025, and is expected to break its own records again in 2026 and 2027. Forecasts even suggest that its estimated revenue for 2026 will be 1.0846 trillion won and operating profit 564.5 billion won, representing year-on-year growth of 64% and 52% respectively. These performance forecasts are acting as major factors in the ‘surge’ of Hanmi Semiconductor’s stock price in the market. Indeed, as of April 30, 2026, the stock price is soaring, having set a new 52-week high.

• The explosive growth of the AI semiconductor market and the expanded HBM investments by global semiconductor companies are driving Hanmi Semiconductor’s performance.
• The scheduled launch of new equipment for next-generation HBM4, HBM5, and HBM6 is expected to lead to continuous revenue growth.
• Chairman Kwak Dong-shin’s continuous share repurchases demonstrate the management’s commitment to responsible management and confidence in future growth, increasing market trust.

Ultimately, Hanmi Semiconductor is maintaining its technological superiority based on the clear growth engine of HBM, and is pursuing a strategy to preempt future markets through aggressive investment and business diversification. This is evidence that it is evolving beyond a mere semiconductor equipment company into a core infrastructure company for the AI era.

Hanmi Semiconductor reigns as an absolute powerhouse in the HBM market, fully benefiting from the AI semiconductor era. Its technological leadership, bold investments, and forward-looking strategy are unstoppable drivers of its growth. It is clear that Hanmi Semiconductor’s innovation and market dominance will continue in the future.

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Honestly, talk of a semiconductor supercycle thanks to High Bandwidth Memory (HBM) has been ongoing since last year, but who knew it would be this big? Today, let’s delve into how SK Hynix is maintaining such explosive growth, whether the ‘1.3 billion KRW per person’ bonus employees are anticipating is just a pipe dream, and what kind of global strategy the company is pursuing.

Record Performance: The Start of a Supercycle Led by HBM

Looking at SK Hynix’s current performance forecasts is jaw-dropping. DS Investment & Securities predicted that operating profit in Q1 2026 would reach 39 trillion KRW, with annual figures potentially growing to 211 trillion KRW, and even 282 trillion KRW by 2027. KB Securities estimated SK Hynix’s operating profit at 251 trillion KRW in 2026 and 360 trillion KRW in 2027, raising its target stock price to an incredible 1.9 million KRW.

• Soaring Memory ASP: The average selling price (ASP) is rising much faster than expected.
• HBM Leadership: SK Hynix is leading the HBM market, an essential component for the AI era, with unparalleled technological prowess. Many predict that HBM3E will become the flagship product in 2026.
• General DRAM Shortage: Analysis suggests that the shortage extends beyond HBM to general DRAM, increasing the company’s pricing power.

Given this situation, it’s impossible for performance not to be good, right? In essence, the expansion of AI infrastructure is completely reshaping the memory market.

SK Hynix Bonus: Is ‘1.3 Billion KRW Per Person’ Really Possible?

There’s a good reason why SK Hynix employees are talking about a ‘1.3 billion KRW per person’ bonus. Global investment bank Macquarie Securities projected SK Hynix’s operating profit to be 447 trillion KRW in 2027, and based on this figure, an analysis suggested the company could afford to pay up to 1.29 billion KRW per person in bonuses. The agreement between labor and management last September to use 10% of operating profit as a source for excess profit sharing (PS) was a stroke of genius.

• Basis for Optimistic Forecast: Of course, this 1.3 billion KRW figure is based on the most optimistic forecast. Based on the consensus of domestic securities firms, around 700 million KRW per person in 2026 is considered more realistic.
• Comparison with Samsung Electronics: Samsung Electronics’ labor union is demanding 15% of the semiconductor division’s (DS) operating profit as bonuses, leading to comparisons with SK Hynix. Some analyses suggest that Samsung Electronics employees might receive more if the union’s calculations are met.
• Happy Dilemma: Regardless, for employees, the important thing is being in a position to have a ‘happy dilemma’ over ‘how many hundreds of millions’ they’ll receive. This bonus expectation is even stirring up the recruitment market.

At this point, it’s easy to say, ‘Who needs the lottery?’ It seems like a very desirable virtuous cycle where the company’s success brings smiles to its employees.

Targeting the Global Market: Will a US ADR Listing Give It Wings?

SK Hynix seems to be aiming to expand its presence beyond the domestic market onto the global stage. News has emerged that it plans to pursue a US stock market listing (ADR) in the second half of 2026. While one purpose is to raise up to 14 billion USD (approximately 19 trillion KRW) in funds, perhaps more importantly, it reflects the company’s determination to have its value properly recognized by global investors.

• Fundraising and Investment Expansion: Funds secured through the US listing are likely to be used for investments in new semiconductor production facilities both domestically and internationally. This could include investment in the semiconductor plant to be built in Indiana.
• Strengthening Global Standing: A US stock market listing will help narrow the valuation gap with global peer companies like Nvidia and further elevate the company’s global standing.
• Interest from Foreign Retail Investors: Recently, foreign retail investors have been selling Nvidia and buying major domestic semiconductor stocks like SK Hynix and Samsung Electronics. This is evidence of strong interest from global investors.

SK Hynix’s efforts to solidify its position in the global market are expected to continue. It’s truly preparing to spread its wings and soar.

We’ve covered SK Hynix’s unstoppable performance, employee bonuses, and global expansion plans. SK Hynix is demonstrating an overwhelming presence at the center of the semiconductor supercycle. We eagerly anticipate what amazing news it will surprise us with next.

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2026 Performance Explosion! The Truth Behind the Black Ink Conversion

Honestly, Husung has been in a slump for the past few years due to the sluggish front-end industry of secondary batteries. In April 2025, the stock price even hit rock bottom at 3,800 won. But lo and behold, they succeeded in turning a profit with an operating profit of 22.1 billion won in 2025, and an operating profit of a whopping 41.7 billion won is expected in 2026. Sales are also projected to grow by 23% to 579.5 billion won. Isn’t this a complete “surge”?
This dramatic turnaround is possible because the large-scale depreciation of facilities, such as the LiPF6 factory in China, which had been holding them back, has been completed, alleviating their financial burden. Many evaluate that the foundation for focusing on new business expansion has now been laid. The stock price also surpassed 10,000 won as of April 6, 2026, and news is also heard that the target stock price has been raised to 12,000 won.

Semiconductor Special Gas, the Hidden Helper of HBM4 and 2nm Process

One of Husung’s key growth engines is its semiconductor special gas business. HBM (High Bandwidth Memory) is incredibly hot these days due to AI semiconductors, isn’t it? The demand for special gases like NF3 and C4F8 is said to increase exponentially in cutting-edge semiconductor processes like HBM4 and 2nm. Husung is greatly contributing to the stabilization of the supply chain by supplying products to major domestic semiconductor manufacturers like Samsung Electronics and SK Hynix.
In particular, the final test for the localization of ultra-high purity gas is expected to pass in 2026, so they are expected to benefit significantly from localization. Furthermore, as the price of tungsten, an essential semiconductor material, has soared, the importance of tungsten hexafluoride (WF6) is also increasing. Did you know that Husung is almost the only company in Korea that produces WF6? As the semiconductor market grows, Husung’s role will inevitably become more important.

Secondary Battery Material LiPF6, Shining Domestic Technology Amidst US Regulations

Husung is the only company in Korea that produces LiPF6 (lithium hexafluorophosphate), a core material for secondary battery electrolytes. Although they have faced difficulties due to the sluggish secondary battery industry, they are aiming for both cost reduction and expansion effects by completing the improvement of the LiPF6 production process at their Ulsan factory by the end of 2025.
In particular, as US FEOC (Foreign Entity of Concern) regulations are strengthened, it is becoming difficult for Chinese-made electrolytes and core materials to enter the US market. In this situation, a company like Husung, which is the only one in Korea to produce LiPF6, is bound to benefit from the ripple effect. In 2026, as major domestic battery cell manufacturers’ factories become more active, Husung’s secondary battery material business is also expected to flourish.
In short, Husung is pursuing a strategy to catch two birds with one stone: semiconductors and secondary batteries. It will be interesting to watch what important role Husung will play in our industrial ecosystem in the future.

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