Samsung Group's market capitalization tops $634 bil. for 1st time: data

A person is seen entering Samsung Electronics' office in Seoul, Oct. 14. Yonhap

Samsung Group's entire market capitalization surpassed $630 billion for the first time on Wednesday, driven by semiconductor maker Samsung Electronics' bullish run, data showed.

Samsung Group's total market capitalization stood at 907.9 trillion won ($634.4 billion), up 67 percent from 543.3 trillion won at the end of last year, according to the data from the Korea Exchange.

The increase was largely attributed to a sharp increase in the share price of Samsung Electronics, which swelled 85.3 percent from 53,200 won on Dec. 31 to 98,600 won Wednesday.

Samsung Electronics' share price rose sharply in recent weeks, boosted by a tech rally on Wall Street and a positive outlook for the chip sector amid a boom in the artificial intelligence (AI) market.