A South Korean industry report on the 23rd triggered a global market ripple effect, as SK Hynix is slowing its mass-production expansion for sixth-generation high-bandwidth memory (HBM4) and reallocating resources to the general-purpose DRAM market. This news caused a sharp pullback in memory-stock prices, with Bloomberg and CNBC citing reports that traders pointed to the South Korean media article. Memory-chip stocks account for roughly 60% of the Korea Composite Stock Price Index (KOSPI), and South Korea's stock market plunged more than 10%, triggering a circuit breaker. The report quoted a source familiar with SK Hynix's internal affairs, stating that given the continued downward revision of production forecasts for NVIDIA's next-generation "Rubin" chip, management no longer sees a need to accelerate production line transitions to HBM4. During U.S. trading hours, Micron fell 13%, while Western Digital dropped 8.4%. As of the first quarter of this year, the operating margin gap between standard-grade DRAM and HBM has widened to more than 15 percentage points, with standard DRAM now holding the advantage. Da Shin Securities forecasts that the operating margin for standard DRAM could theoretically peak at 90% within the year. SK Hynix also disclosed in its first-quarter earnings report that the average selling price of DRAM has risen to the mid-60% range and that it has signed a three-year DDR5 supply contract with