이 포스팅은 쿠팡 파트너스 활동의 일환으로, 이에 따른 일정액의 수수료를 제공받습니다.
South Korea’s semiconductor exports are reaching historic heights in 2026. According to the Ministry of Trade, Industry and Energy, the country’s semiconductor exports are expected to reach $188 billion this year — an 11% increase year-on-year and the second consecutive annual record. In March alone, exports surged 151.4% compared to the same period last year, breaking the $30 billion monthly barrier for the first time ever. The driving force behind this boom is the explosive demand for HBM (High Bandwidth Memory) fueled by the global AI infrastructure buildout.
What Is HBM and Why Does It Matter for AI?
High Bandwidth Memory (HBM) is a specialized memory chip that stacks multiple DRAM dies vertically using TSV (Through-Silicon Via) technology. It is a critical component in NVIDIA’s H100 and B200 GPUs, powering the training and inference of large language models (LLMs) like ChatGPT, Gemini, and Claude. HBM offers data processing speeds more than 10 times faster than conventional DRAM, eliminating the memory bottleneck in AI computation. As AI services continue to proliferate, HBM demand consistently outpaces supply, giving Korean chipmakers a structural advantage.
Samsung vs. SK Hynix: A ₩70 Trillion Investment Battle
SK Hynix currently dominates the HBM market with a 62% share, having completed the world’s first HBM4 12-layer sample shipment to NVIDIA in March 2026. Samsung Electronics, holding a 17% HBM share, is fighting back by launching new products that combine 10nm-class DRAM with its own 4nm foundry process. Both companies plan capital expenditures exceeding ₩35 trillion each in 2026. Nomura Securities forecasts Samsung’s 2026 operating profit at ₩133 trillion and SK Hynix at ₩99 trillion, describing the memory super-cycle as likely to persist at least through 2027.
Risk Factors Despite the Boom
The semiconductor export boom comes with notable risks. Geopolitical tensions in the Middle East have pushed the Korean won past 1,500 per US dollar, raising import cost pressures. US export controls on China and ongoing tariff uncertainty remain key variables. Longer-term, accelerating Chinese efforts to build domestic chip capabilities raise concerns about potential supply oversupply. Analysts advise that while the AI super-cycle provides a strong tailwind, geopolitical risk management is essential for sustaining Korea’s semiconductor edge.
Frequently Asked Questions (FAQ)
Q. How is HBM different from regular DRAM?
A. Regular DRAM consists of single chips on a circuit board, while HBM stacks multiple DRAM dies vertically and connects them through TSV (Through-Silicon Via) technology. This architecture delivers over 10x the data bandwidth of conventional DRAM. HBM is significantly more expensive and is used exclusively in high-end AI GPUs and supercomputing hardware.
Q. Why is South Korea so dominant in HBM production?
A. South Korea’s dominance stems from decades of DRAM manufacturing expertise at Samsung and SK Hynix, combined with massive capital investment and close partnerships with NVIDIA. SK Hynix was first to commercially ship HBM3E and has maintained a first-mover advantage in every HBM generation. Both companies benefit from South Korea’s deep semiconductor supply chain ecosystem.
Q. When will HBM4 enter mass production?
A. SK Hynix targets mass production of HBM4 in the second half of 2026, while Samsung aims for late 2026 to early 2027. HBM4 is expected to offer approximately 50% higher bandwidth than the current HBM3E generation and is slated for use in NVIDIA’s next-generation “Rubin” GPU platform.
