Surging demand for memory chips and related equipment amid the AI boom has boosted shares of EO Technics in South Korea by over 40% so far this year. The stock rise has made the company’s founder and CEO, Sung Kyu-dong, a billionaire.

With a 28% stake, Sung, 68, is the largest shareholder of EO Technics, which is listed on South Korea’s technology-rich Kosdaq stock exchange. His wife, Chung Yoon-hye, and two sons combined hold an additional holding of close to 2%. Forbes estimates Sung and his family’s net worth at $1 billion as of Friday’s stock market close.

Based in Anyang, south of Seoul, EO Technics makes laser-based equipment used in the production of memory chips. Its flagship product is the CSM (Chip Scale Marker), equipment that etches identification codes onto chips........

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