SK Hynix to upgrade China plant to skirt US export restrictions. Credit: SK Hynix
Driven by China’s consumer subsidies and a recovering memory chip market, Samsung Electronics and SK Hynix saw strong sales growth in the Chinese market last year. Samsung’s exports to China reached KRW 64.93 trillion ($47.59 billion) in 2024, a 53.9% increase from the KRW 42.3 trillion worth the previous year, according to the company’s latest report. This figure surpassed the KRW 61.35 trillion ($44.98 billion) worth of exports to the US in 2024. While the export value includes products such as smartphones, TVs, and displays, semiconductor chips (NAND Flash, DRAM, display driver chips, and image sensors) accounted for the majority of the figure, Korean media outlet Yonhap News stated. Similarly, SK Hynix’s subsidiary in the Chinese city of Wuxi recorded KRW 5.6 trillion ($4.1 billion) in sales in 2024, a sharp rebound from a KRW 1.5 trillion ($1.1 billion) net loss in 2023. [Icsmart, in Chinese]
