As of October 27, 2026, South Korea’s two largest memory makers are setting up the same squeeze from opposite ends. ZDNet Korea reported on Oct 26 that Samsung Electronics and SK Hynix have fixed the second quarter of 2027 for mass production and shipment of 8-hi HBM4 bound for Nvidia. On Oct 28 SK Hynix reports third-quarter results; Samsung follows on Oct 29.
Key Takeaways
- ■ Samsung and SK Hynix have set Q2 2027 for 8-hi HBM4 volume for Nvidia, ZDNet Korea reported.
- ▼ The KOSPI closed at 5,469.47 on Oct 26, its lowest close since Apr 6, as investors waited for earnings.
- ▲ KB Securities put the pair’s price-to-earnings ratio near 3x and called the discount financial-crisis level, a broker view.
- ■ A reported 16 trillion won SK Hynix special dividend was denied the same day; the board decision is due Oct 28.
A reported 8-hi HBM4 timeline for Nvidia
ZDNet Korea’s Oct 26 report, citing people familiar with the matter, said 8-hi HBM4 was not originally in Nvidia’s supply plan, that talks gathered pace from the third quarter, and that 12-hi HBM4E had been the planned configuration before heat and yield problems pushed Nvidia toward running 8-hi HBM4 and 8-hi HBM4E together. 12-hi HBM4 remains the volume product this year, with the 8-hi share expected to expand sharply from mid-2027; both companies hold Nvidia certification for 12-hi, while 8-hi requires a separate pass.
“삼성전자·SK하이닉스는 엔비디아향 HBM4 8단 양산 출하 시점을 내년 2분기께로 설정했다” — “Samsung Electronics and SK Hynix have set the timing for mass production and shipment of 8-hi HBM4 for Nvidia at around the second quarter of next year.”
What is confirmed this week and what is only forecast
Financial News reported that SK Hynix reports on Oct 28 and Samsung on Oct 29, both with conference calls. Samsung’s figures are preliminary: ZDNet Korea reported revenue of 195 trillion won and operating profit of 107.4 trillion won from that disclosure. For SK Hynix, ZDNet Korea put the consensus at revenue of 98.2257 trillion won and operating profit of 76.964 trillion won — a forecast, not a result.
Shareholder returns: decided, completed and reported
Financial News reported that Samsung flagged a 30 trillion won special dividend and that SK Hynix completed a 40 trillion won share buyback. The contested item is a 16 trillion won SK Hynix dividend tied to its Kioxia stake gain; ETNews reported that SK Hynix filed a same-day disclosure on Oct 26 saying it is reviewing ways to lift shareholder value but nothing is decided.
Market backdrop: a KOSPI at April lows into event week
ETNews reported that the KOSPI closed down 1.46% at 5,469.47 on Oct 26, its lowest close since Apr 6, 2026, when it finished at 5,450.33, and that the KOSDAQ fell 3.26% to 727.21. SK Hynix rose as much as 2.74% intraday to 1.312 million won on the dividend report before closing down 0.16% at 1.275 million won.
The undervaluation debate
Seoul Economic Daily reported that Kim Dong-won, head of research at KB Securities, wrote in an Oct 26 note that the price-to-earnings ratio of both companies had fallen to around 3x and that they had entered a valuation range comparable to past financial crises. KB projected next-year operating profit of 555 trillion won for Samsung and 389 trillion won for SK Hynix, and estimated that 70-80% of next year’s memory output is locked into five-year agreements with global big tech.
What to watch
Oct 28 brings SK Hynix’s confirmed results and the board’s decision on additional returns; Oct 29 brings Samsung’s confirmed results and its 2027 outlook.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
