South Korean AI chip stock SK Hynix share price surges 13% after unveiling $29 billion US listing plan

South Korean memory chip giant SK Hynix surged nearly 13 percent after unveiling plans to raise about 29.4 billion dollars through a US ADR listing, one of the largest equity offerings ever. The proceeds will fund manufacturing expansion and EUV lithography equipment purchases. The rally lifted Samsung Electronics by 6.5 percent and propelled South Korea's Kospi index up 6 percent, with optimism around AI-driven memory chip demand boosting the broader semiconductor sector.