SK Hynix's stock surged 5.01% in overnight trading, marking a significant positive movement for the semiconductor manufacturer.

The rally follows confirmation from SK Group Chairman Chey Tae-won that the company is actively scouting chip factory locations in the United States. This strategic move aims to boost supply capacity amid memory chip demand that far exceeds current supply, while also addressing persistent U.S. government pressure for Korean chipmakers to expand domestic production.

Market analysts highlight that SK Hynix's forward P/E ratio for 2027 has fallen to approximately 3.5x—a historically extreme low—with institutions viewing current levels as an exceptional contrarian entry point. The overnight gain represents a rebound after a steep sell-off exceeding 20% over the prior week, which was driven by Korean monetary tightening and liquidations in leveraged single-stock exchange-traded funds that have contributed to unprecedented volatility in the Korean equity market.