Elon Musk points to China as potential threat to South Korea's memory chip boom

A South Korean financial column warned of memory chip oversupply around 2029 due to new capacity, urging Korea to develop new growth industries within 2-3 years because its economy heavily relies on Samsung Electronics and SK Hynix. Elon Musk added a supply threat, stating China will make "a LOT of RAM" in 2028. This concern is amplified by Chinese rival ChangXin Memory Technologies (CXMT), which holds about 8% of global DRAM revenue in the first quarter, and Gartner's forecast of $837 billion in memory revenue in 2026, potentially crossing $1 trillion in 2027. If Chinese output scales up in 2028, oversupply could begin earlier than expected.