The storage chip industry is experiencing a rare boom cycle. According to market analysis, the surge in demand for AI servers has directly driven up the procurement of DRAM and eSSD, and suppliers are taking the opportunity to raise prices — PC and mobile DRAM prices have increased by 30%-40% month-on-month, with server-grade products even soaring to 40%-60%. The situation for eSSD is also challenging; prices are expected to continue rising by 30%-40% into Q4 2025.

The problem lies in insufficient capacity. Large-scale expansion will not start until 2028, and the shortage is unlikely to improve significantly within the next few years. As industry leaders, Samsung and SK Hynix are not only benefiting from high demand for HBM (High Bandwidth Memory), but profits for general DRAM are also beginning to catch up, and in some scenarios, even surpassing them. Market expectations for target prices reflect this optimism — Samsung is valued at 160,000 KRW, and SK Hynix at 880,000 KRW. Typically, this kind of structural shortage combined with product price increases tends to drive valuation recovery across the entire industry chain.